AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.29% against the USD to close at 1.0583.
In the Asian session, at GMT0400, the pair is trading at 1.0593, with the AUD trading 0.09% higher from yesterday’s close.
In data released this morning, unemployment rate in Australia rose to 5.2% in February, as compared to 5.1% in January.
LME Copper prices declined 0.9% or $74.8/MT to $8260.5/ MT. Aluminium prices declined 1.4% or $29.8/MT to $2172.5/ MT.
The pair is expected to find support at 1.0548, and a fall through could take it to the next support level of 1.0502. The pair is expected to find its first resistance at 1.0623, and a rise through could take it to the next resistance level of 1.0654.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
