AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened marginally against the USD to close at 0.9336, in an Easter Monday holiday trading session.
LME Copper prices rose 0.5% or $31.0/MT to $6631.0/MT. Aluminium prices advanced 0.2% or $4.0/MT to $1837.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9351, with the AUD trading 0.16% higher from yesterday’s close. Earlier today, the Conference Board reported that its leading index in Australia rose 0.3% in February, following a 0.2% rise registered in the preceding month.
The pair is expected to find support at 0.9325, and a fall through could take it to the next support level of 0.9299. The pair is expected to find its first resistance at 0.9369, and a rise through could take it to the next resistance level of 0.9387.
With no major economic releases from Australia later today, traders would keep a close eye on Australia’s consumer inflation data, due for release on Wednesday.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
