AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.36% against the USD and closed at 0.7762.
LME Copper prices declined 1.1% or $75.0/MT to $6953.0/MT. Aluminium prices declined 0.6% or $14.0/MT to $2158.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7732, with the AUD trading 0.39% lower against the USD from yesterday’s close, after overnight data revealed that Australia’s AiG performance of manufacturing index dropped to a level of 57.5 in February, compared to a level of 58.7 in the previous month.
Elsewhere in China, Australia’s largest trading partner, the Caixin/Markit manufacturing PMI unexpectedly climbed to a 6-month high level of 51.6 in February, defying market consensus for a fall to a level of 51.3. the PMI had recorded a level of 51.5 in the previous month.
The pair is expected to find support at 0.7693, and a fall through could take it to the next support level of 0.7654. The pair is expected to find its first resistance at 0.7795, and a rise through could take it to the next resistance level of 0.7858.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
