AUDUSD Movement
On Friday, the AUD weakened 0.18% against the USD to close at 0.9252.
LME Copper prices rose 1.3% or $86.0/MT to $6667.0/MT. Aluminium prices advanced 1.6% or $27.0/MT to $1709.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9234, with the AUD trading 0.19% lower from Friday’s close.
On the economic front, HIA new home sales jumped 4.6% (MoM) in February, on strong demand for detached houses. Separately, another report confirmed that private sector credit in Australia came in-line with market estimates with a 0.4% (MoM) rise in February, similar to the pace of rise registered in the previous month.
The pair is expected to find support at 0.9213, and a fall through could take it to the next support level of 0.9191. The pair is expected to find its first resistance at 0.9275, and a rise through could take it to the next resistance level of 0.9315.
During the later course of the day, the Australian Industry Group (AiG) is expected to report the performance of its manufacturing index in Australia.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
