AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.13% against the USD to close at 0.9269.
LME Copper prices fell 0.2% or $12.0/MT to $6770.0/MT. Aluminium prices shed 1.2% or $21.0/MT to $1779.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9285, with the AUD trading 0.17% higher from yesterday’s close.
Early morning, the RBA reported that the value of loans outstanding to Australia’s private sector continued to grow at a steady pace of 0.4% on a monthly basis in March.
The pair is expected to find support at 0.9249, and a fall through could take it to the next support level of 0.9214. The pair is expected to find its first resistance at 0.9304, and a rise through could take it to the next resistance level of 0.9324.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
