AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.21% against the USD and closed at 0.7677 on Friday.
LME Copper prices declined 0.95% or $64.0/MT to $6703.0/MT. Aluminium prices declined 0.10% or $2.0/MT to $1967.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7687, with the AUD trading 0.13% higher against the USD from Friday’s close, after overnight data revealed that Australia’s AiG performance of construction index rose to a level of 57.2 in March, after recording a reading of 56.0 in the prior month.
The pair is expected to find support at 0.7669, and a fall through could take it to the next support level of 0.7652. The pair is expected to find its first resistance at 0.7702, and a rise through could take it to the next resistance level of 0.7718.
Moving forward, Australia’s NAB business confidence index for March, set to release overnight, will be on investors’ radar.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
