AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.12% against the USD and closed at 0.7218.
LME Copper prices declined 0.2% or $12.0/MT to $6151.0/MT. Aluminium prices declined 1.1% or $21.5/MT to $1928.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7228, with the AUD trading 0.14% higher against the USD from yesterday’s close.
Overnight data indicated that Australia’s consumer inflation expectations climbed to a level of 4.0% in December. In the prior month, consumer inflation expectations had recorded a reading of 3.6%.
The pair is expected to find support at 0.7207, and a fall through could take it to the next support level of 0.7185. The pair is expected to find its first resistance at 0.7244, and a rise through could take it to the next resistance level of 0.7259.
Looking forward, investors would closely monitor Australia’s CBA manufacturing and services PMI’s for December, scheduled to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
