AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.46% against the USD and closed at 0.7673.
LME Copper prices rose 0.6% or $34.0/MT to $6145.0/MT. Aluminium prices rose 1.4% or $25.5/MT to $1893.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7675, with the AUD trading marginally higher against the USD from yesterday’s close.
Overnight data revealed that Australia’s Westpac consumer confidence index climbed to a level of 99.6 in February, compared to a reading of 97.4 in the prior month.
The pair is expected to find support at 0.7627, and a fall through could take it to the next support level of 0.758. The pair is expected to find its first resistance at 0.7709, and a rise through could take it to the next resistance level of 0.7744.
Looking ahead, traders would await Australia’s jobs report for January and consumer inflation expectations for February, scheduled to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
