AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, the AUD weakened 0.40% against the USD to close at 1.0536.
LME Copper prices declined 0.6% or $45.8/MT to $8070.8/MT. Aluminium prices rose 0.1% or $2.5/MT to $2076.8/MT.
In the Asian session, at GMT0400, the pair is trading at 1.056, with the AUD trading 0.22% higher from Friday’s close.
This morning in Australia, annual consumer price inflation eased to 2.4% in December, compared to a 2.5% rate registered in the previous month. Separately, on a seasonally adjusted basis, home loan approvals unexpectedly fell 0.5% in November, compared to a 0.1% rise in October. Market had expected a 0.3% rise.
The pair is expected to find support at 1.0525, and a fall through could take it to the next support level of 1.0491. The pair is expected to find its first resistance at 1.0591, and a rise through could take it to the next resistance level of 1.0623.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
