AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.13% against the USD and closed at 0.6840.
LME Copper prices declined 0.3% or $19.0/MT to $5838.0/MT. Aluminium prices declined 2.2% or $39.5/MT to $1765.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6839, with the AUD trading slightly lower against the USD from yesterday’s close.
Overnight data revealed that Australia’s Westpac consumer confidence index climbed 4.5% on a monthly basis to a level of 97.0 in November, compared to a reading of 92.8 in the previous month.
The pair is expected to find support at 0.6828, and a fall through could take it to the next support level of 0.6816. The pair is expected to find its first resistance at 0.6854, and a rise through could take it to the next resistance level of 0.6868.
Looking ahead, traders o would await Australia’s consumer inflation expectations for November and unemployment rate for October, slated to release overnight.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
