AUD/USD: Leading Index In Australia Rises In January

AUD/USD: Leading Index In Australia Rises In January

For the 24 hours to 23:00 GMT, AUD weakened 0.29% against the USD to close at 1.0363.

LME Copper prices declined 0.2% or $16.5/MT to $7539.0/MT. Aluminium prices rose 0.4% or $7.0/MT to $1902.5/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0379, with the AUD trading 0.15% higher from yesterday’s close.

This morning, the Westpac-Melbourne Institute reported that its leading economic index in Australia advanced 0.3% (MoM) in January, compared to a similar rise recorded in December.

The pair is expected to find support at 1.0355, and a fall through could take it to the next support level of 1.0331. The pair is expected to find its first resistance at 1.0398, and a rise through could take it to the next resistance level of 1.0417.