AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD traded flat against the USD to close at 1.0375.
In economic news, this morning, the Westpac Consumer Sentiment Index stood at 103.4 in November compared to 97.2 in October.
In the Asian session, at GMT0400, the pair is trading at 1.0360, with the AUD trading 0.14% lower from yesterday’s close.
LME Copper prices rose 0.6% or $44.8/MT to $7,820.3/ MT. Aluminium prices declined 1.2% or $25.5/MT to $2,092.5/ MT.
The pair is expected to find support at 1.0293, and a fall through could take it to the next support level of 1.0226. The pair is expected to find its first resistance at 1.0416, and a rise through could take it to the next resistance level of 1.0472.
The pair is expected to trade on the cues from the release of employment data in Australia.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
