AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 1.07% against the USD to close at 0.7656.
LME Copper prices declined 0.59% or $36.0/MT to $6110.0/MT. Aluminium prices rose 0.25% or $4.5/MT to $1776.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7636, with the AUD trading 0.26% lower from yesterday’s close.
Early morning data showed that new home sales in Australia registered a rise of 1.10% on a monthly basis in February, following a rise of 1.80%. Meanwhile, private sector credit growth rose 0.5% MoM in February, in line with market expectations. It had climbed 0.60% in the previous month.
The pair is expected to find support at 0.7598, and a fall through could take it to the next support level of 0.756. The pair is expected to find its first resistance at 0.7708, and a rise through could take it to the next resistance level of 0.7779.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
