AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.18% against the USD and closed at 0.767.
LME Copper prices rose 0.5% or $32.0/MT to $6034.0/MT. Aluminium prices traded flat to trade at $1878.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7689, with the AUD trading 0.25% higher against the USD from yesterday’s close.
Overnight data showed that Australia’s Westpac leading index advanced 0.03% MoM in January, after registering a revised rise of 0.43% in the prior month. Meanwhile, the nation’s construction work done unexpectedly eased 0.2% in 4Q 2016, compared to a revised fall of 4.4% in the previous quarter.
Elsewhere, in China, Australia’s largest trading partner, house price index gained 12.2% in January, after recording a rise of 12.4% in the preceding month.
The pair is expected to find support at 0.7657, and a fall through could take it to the next support level of 0.7625. 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 0.7729.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
