AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.20% against the USD to close at 0.6924.
LME Copper prices declined 2.11% or $93.5 /MT to $4347.0 /MT. Aluminium prices rose 2.18% or $32.5 /MT to $1461.5 /MT.
In the Asian session, at GMT0400, the pair is trading at 0.6911, with the AUD trading 0.18% lower from yesterday’s close.
Early this morning, data showed that new home sales in Australia declined for the third consecutive month easing 2.7% MoM in November, following a 3.0% fall in the previous month. Additionally, the nation’s consumer inflation expectations dropped to 3.6% in January, after registering a rise of 4.0% in the previous month.
The pair is expected to find support at 0.6840, and a fall through could take it to the next support level of 0.6768. The pair is expected to find its first resistance at 0.6971, and a rise through could take it to the next resistance level of 0.7032.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
