AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.52% against the USD to close at 1.0394 on broad dollar strength.
In the Asian session, at GMT0400, the pair is trading at 1.0404, with the AUD trading 0.10% higher from yesterday’s close.
Data released this morning showed that the conference board leading economic index in China rose to 227.5 in February with a 0.8% rise compared to a reading of 225.7 in January.
LME Copper prices declined 1.8% or $150.5/MT to $8319.8/ MT. Aluminium prices declined 2.4% or $53.0/MT to $2139.3/ MT.
The pair is expected to find support at 1.0355, and a fall through could take it to the next support level of 1.0305. The pair is expected to find its first resistance at 1.0436, and a rise through could take it to the next resistance level of 1.0467.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
