For the 24 hours to 23:00 GMT, AUD weakened 0.14% against the USD to close at 1.0377.
In the Asian session, at GMT0300, the pair is trading at 1.0394, with the AUD trading 0.16% higher from yesterday’s close.
On the economic front, new home sales in the Australia on seasonally-adjusted increased 3.0% (MoM) in February, compared to a contraction of 7.3% in January. Additionally, private sector credit rose 0.4% (MoM) in February, compared to a 0.2% rise in January, and against the market expectation of 0.3% growth.
LME Copper prices declined 1.4% or $120.5/MT to $8359.8/ MT. Aluminium prices declined 1.4% or $30.8/MT to $ 2107.0/ MT.
The pair is expected to find support at 1.0328, and a fall through could take it to the next support level of 1.0262. The pair is expected to find its first resistance at 1.0437, and a rise through could take it to the next resistance level of 1.0480.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
