AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.42% against the USD and closed at 0.7065.
LME Copper prices declined 1.8% or $120.0/MT to $6409.0/MT. Aluminium prices rose 0.03% or $0.5/MT to $1873.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7083, with the AUD trading 0.25% higher against the USD from yesterday’s close.
Elsewhere in China, Australia’s largest trading partner, new home prices advanced 0.5% on a monthly basis in February, following a rise of 0.6% in the preceding month.
The pair is expected to find support at 0.7052, and a fall through could take it to the next support level of 0.7020. The pair is expected to find its first resistance at 0.7104, and a rise through could take it to the next resistance level of 0.7124.
Going ahead, investors would await Australia’s unemployment rate, the Westpac leading index and house price index, all set to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
