AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.54% against the USD to close at 0.8962, hurt by a decline in the activities of Australian construction sector in the fourth-quarter and a fall in iron-ore prices for Chinese imports.
LME Copper prices rose 0.5% or $34.0/MT to $7149.0/MT. Aluminium prices advanced 1.6% or $26.5/MT to $1735.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8939, with the AUD trading 0.26% lower from yesterday’s close, after a report showed that private capital expenditure in Australia declined 5.2% in the fourth-quarter, the most since September 2009 and compared to a 2.6% rise recorded in the preceding quarter.
The pair is expected to find support at 0.8894, and a fall through could take it to the next support level of 0.8850. The pair is expected to find its first resistance at 0.9005, and a rise through could take it to the next resistance level of 0.9072.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
