AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.19% against the USD on Friday to close at 1.0149.
In Australia, performance of construction index rose by 4.4 points to reach 44.6 in February 2011 from 40.2 in the previous month. Additionally, ANZ Job Advertisements growth declined to 1.2% (M-o-M) in February, compared to a 2.4% rise in January.
In the Asian session at 4:00GMT, the pair is trading at 1.0126, 0.23% lower from the New York session close.
LME Copper prices rose 0.8% or $81.0/MT to $9,970.3/ MT. Aluminium prices rose 0.3% or $9.0/ MT to $2,587.5/ MT.
The pair is expected to find first short term resistance at 1.0156, with the next resistance levels at 1.0186 and 1.0240, subsequently. The first support for the pair is seen at 1.0102, followed by next supports at 1.0078 and 1.0024 respectively.
Economic releases such as business confidence in Australia are expected to be the key indicators to influence future trading trends in the currency pair.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
