AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, AUD strengthened 0.67% against the USD to close at 1.0591.
On a month-on-month basis, new house prices in China fell in 45 of 70 large cities in February, compared to 47 cities recording a drop in January.
In the Asian session, at GMT0400, the pair is trading at 1.0610, with the AUD trading 0.18% higher from Friday’s close.
LME Copper prices rose 1.5% or $130.0/MT to $ 8620.3/ MT. Aluminium prices rose 1.2% or $26.8/MT to $ 2222.0/ MT.
The pair is expected to find support at 1.0543, and a fall through could take it to the next support level of 1.0476. The pair is expected to find its first resistance at 1.0646, and a rise through could take it to the next resistance level of 1.0681.
Trading trends in the pair today are expected to be determined by the release of Conference Board leading Index in Australia.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
