AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.70% against the USD on Friday to close at 1.0571.
On Saturday, China recorded a trade deficit $31.5 billion in February, compared to a surplus of $27.3 billion in January.
In the Asian session, at GMT0400, the pair is trading at 1.0537, with the AUD trading 0.32% lower from Friday’s close.
LME Copper prices rose marginally or $1.3/MT to $ 8390.3/ MT. Aluminium prices declined 0.2% or $5.0/MT to $ 2169.8 / MT.
The pair is expected to find support at 1.0488, and a fall through could take it to the next support level of 1.0439. The pair is expected to find its first resistance at 1.0625, and a rise through could take it to the next resistance level of 1.0713.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
