AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.11% against the USD to close at 1.0264.
LME Copper prices declined 1.4% or $99.5/MT to $6875.5/MT. Aluminium prices declined 1.6% or $30.5/MT to $1841.0/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0227, with the AUD trading 0.36% lower from yesterday’s close.
Data released this morning indicated that Conference Board’s leading economic index in Australia rose 0.3% to 122.2 in February, following a 0.2% rise in January. However, the Aussie came under pressure as manufacturing purchasing managers’ index in China, Australia’s biggest trading partner fell to a reading of 50.5 in April from 51.6 in March.
The pair is expected to find support at 1.0196, and a fall through could take it to the next support level of 1.0166. The pair is expected to find its first resistance at 1.0282, and a rise through could take it to the next resistance level of 1.0338.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
