AUD/USD: Australian Dollar trading higher on improved consumer ...

GCI Forex News - AUD/USD: Australian Dollar trading higher on improved consumer sentiment

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For the 24 hours to 23:00 GMT, AUD strengthened 0.18% against the USD to close at 1.0444.

LME Copper prices declined 0.3% or $20.0/MT to $7606.3/MT. Aluminium prices rose 0.8% or $14.8/MT to $1943.8/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0452, with the AUD trading marginally higher from yesterday?s close, as the Westpac consumer confidence index in Australia rose 5.2% to 104.3 in November, compared to a reading of 99.2 recorded in the previous month.

The pair is expected to find support at 1.0414, and a fall through could take it to the next support level of 1.0376. The pair is expected to find its first resistance at 1.0473, and a rise through could take it to the next resistance level of 1.0493.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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Source: http://forexnews.gcitrading.com/currencies/audusd/audusd-australian-dollar-trading-higher-on-improved-consumer-sentiment.htm

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