AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.84% against the USD to close at 1.0622, after the government report showed increase in business investment.
The government statistics agency stated that Australian capital spending climbed 3.4% in the three months to March 31, against the forecast for a 2.7% increase.
In the Asian session at 3:00GMT, the pair is trading at 1.0685, 0.59% higher from the New York session close.
LME Copper prices declined 0.3% or $28.3/MT to $8,990.3/ MT. Aluminium prices trade flat at $2,539.0/ MT.
The pair is expected to find first short term resistance at 1.0729, with the next resistance levels at 1.0773 and 1.0900, subsequently. The first support for the pair is seen at 1.0602, followed by next supports at 1.0519 and 1.0392 respectively.
The currency pair is trading above its 20 Hr moving average and its 50 Hr moving average.
