AUD/USD: Aussie trading lower in the Asian session


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 6.08% against the USD and closed at 0.6484.

LME Copper prices declined 0.8% or $46.0/MT to $5,552.0/MT. Aluminium prices fell 1.1% or $18.5/MT to $1,670.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.6460, with the AUD trading 0.37% lower against the USD from yesterday’s close.

Overnight data showed that Australia’s consumer inflation expectations unexpectedly remained unchanged at 4.0% in March, defying market expectations for a rise to 4.6%.

The pair is expected to find support at 0.6428, and a fall through could take it to the next support level of 0.6395. The pair is expected to find its first resistance at 0.6516, and a rise through could take it to the next resistance level of 0.6571.

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

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