AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.08% against the USD to close at 0.9785.
In the US, industrial production declined by 0.1% in February following an upwardly revised growth of 0.3% in January. Additionally, capacity utilization rate unexpectedly fell to 76.3% in February, compared to an upwardly revised rate of 76.4% in the previous month.
In the Asian session at 4:00GMT, the pair is trading at 0.9941, 1.59% higher from the New York session close.
LME Copper prices rose 0.9% or $85.3/MT to $9,439.5/ MT. Aluminium prices rose 0.3% or $7.8/ MT to $2,475.3/ MT.
The pair is expected to find first short term resistance at 1.0001, with the next resistance levels at 1.0060 and 1.0231, subsequently. The first support for the pair is seen at 0.9830, followed by next supports at 0.9718 and 0.9547 respectively.
Investors are eying RBA foreign exchange transaction to be released later today.
The currency pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
