AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.84% against the USD to close at 1.0260.
LME Copper prices declined 0.7% or $60.5/MT to $8009.5/MT. Aluminium prices declined 0.5% or $10.0/MT to $2065.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0238, with the AUD trading 0.21% lower from yesterday’s close.
In China this morning, the MNI flash business sentiment indicator rose to a reading of 61.8 in February, compared to a reading of 55.2 posted in the previous month. Also, the Conference Board’s leading economic index rose to a reading of 253.4 in January compared to a reading of 251.0 reported in December.
The pair is expected to find support at 1.0193, and a fall through could take it to the next support level of 1.0147. The pair is expected to find its first resistance at 1.0326, and a rise through could take it to the next resistance level of 1.0413.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
