AUDUSD Movement
On Friday, the AUD weakened 0.35% against the USD to close at 1.0387.
LME Copper prices rose 0.5% or $39.5/MT to $7376.0/MT. Aluminium prices rose 0.6% or $11.5/MT to $1845.0/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0371, with the AUD trading 0.15% lower from Friday’s close.
This morning, the AiG construction performance indicator in Australia dropped to a reading of 39.0 in March, from a reading of 45.6 in the previous month. Also, the number of job advertisements in Australia dropped 1.5% in March, compared to a 3.0% growth recorded in February.
The pair is expected to find support at 1.0333, and a fall through could take it to the next support level of 1.0294. The pair is expected to find its first resistance at 1.0425, and a rise through could take it to the next resistance level of 1.0478.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
