AUDUSD Movement
On Friday, the AUD weakened 0.10% against the USD to close at 1.0282, as risk appetite weakened after data showed that the US economy grew less-than-forecast in the first quarter.
LME Copper prices rose 0.3% or $19.5/MT to $7054.5/MT. Aluminium prices rose 0.4% or $7.00/MT to $1890.0/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0318, with the AUD trading 0.35% higher from Friday’s close.
The pair is expected to find support at 1.0278, and a fall through could take it to the next support level of 1.0239. The pair is expected to find its first resistance at 1.0342, and a rise through could take it to the next resistance level of 1.0367.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
