AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.19% against the USD to close at 1.0333.
The Australian Industry Group/PriceWaterhouseCoopers performance of manufacturing index PMI dropped 3.2 points to 47.9 in March.
Richmond Fed President, Jeffrey Lacker stated that the Federal Reserve should think about trimming its $600 billion bond-buying stimulus as the economy shows signs of improvement and hints of inflation.
LME Copper prices fell 1.3% or $120.0/MT to $9399.3/ MT. Aluminium prices rose 0.2% or $4/ MT to $2599.0/ MT.
In the Asian session at 3:00GMT, the pair is trading at 1.0328, 0.05% lower from the New York session close.
The pair is expected to find first short term resistance at 1.0366, with the next resistance levels at 1.0404 and 1.0471, subsequently. The first support for the pair is seen at 1.0299, followed by next supports at 1.0270 and 1.0203 respectively.
Trading trends in the currency pair are expected to be determined by data release on commodity prices in Australia.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
