AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 1.34% against the USD to close at 0.7325.
LME Copper prices rose 0.51% or $23.5 /MT to $4619.0 /MT. Aluminium prices were flat at $1442.0 /MT.
In the Asian session, at GMT0400, the pair is trading at 0.7316, with the AUD trading 0.13% lower from yesterday’s close.
Early morning data showed that Australia’s GDP advanced more-than-expected by 0.9% QoQ in 3Q 2015, more than market expectations for an advance of 0.8%, and after recording a revised rise of 0.3% in the previous quarter.
The pair is expected to find support at 0.7264, and a fall through could take it to the next support level of 0.7211. The pair is expected to find its first resistance at 0.7357, and a rise through could take it to the next resistance level of 0.7397.
Going ahead, market participants will look forward to Australia’s AiG Performance of Service Index data for November, scheduled to be released tonight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
