AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.12% against the USD to close at 1.0433.
In Australia, investment lending was down 2.3% (M-o-M) in February, following the downwardly revised fall of 6.9% in January.
In the morning news, AiG performance of construction index in Australia plunges to 39.4 in March, compared to 44.6 in February. According to the Australian Bureau of Statistics, unemployment rate in Australia dropped to 4.9% in March, from 5.0% in February. Moreover, on a seasonally-adjusted basis, employment increased 37,800 to 11.46 million in March.
In the Asian session at 3:00GMT, the pair is trading at 1.0464, 0.30% higher from the New York session close.
LME Copper prices climbed 2.4% or $224.0/MT to $9475.3/ MT. Aluminium prices rose 1.3% or $33.3/ MT to $2625.8/ MT.
The pair is expected to find first short term resistance at 1.0518, with the next resistance levels at 1.0573 and 1.0717, subsequently. The first support for the pair is seen at 1.0374, followed by next supports at 1.0285 and 1.0141 respectively.
Trading trends in the pair today are expected to be determined by Foreign Reserve data due to be released in Australia, later today.
The currency pair is trading well above its 20 Hr and 50 Hr moving averages.
