AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.18% against the USD and closed at 0.7235.
LME Copper prices declined 0.4% or $24.0/MT to $6106.0/MT. Aluminium prices rose 0.3% or $6.0/MT to $1931.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7273, with the AUD trading 0.53% higher against the USD from yesterday’s close.
Overnight data indicated that Australia’s seasonally adjusted unemployment rate remained steady at 5.0% in October. Meanwhile, consumer inflation expectations recorded a drop to 3.6% in November. In the prior month, the consumer inflation expectations had recorded a level of 4.0%.
The pair is expected to find support at 0.7213, and a fall through could take it to the next support level of 0.7154. The pair is expected to find its first resistance at 0.7307, and a rise through could take it to the next resistance level of 0.7342.
Amid lack of economic releases in Australia today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
