AUDUSD Movement
On Friday, the AUD strengthened 0.60% against the USD to close at 0.9288.
LME Copper prices rose 1.1% or $71.0/MT to $6677.0/MT. Aluminium prices advanced 1.5% or $27.5/MT to $1810.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9287, with the AUD trading tad lower from Friday’s close. Early morning, in Australia, data showed that the AiG performance of construction index rose to a level of 46.2 in March, above the level of 44.2 recorded in the previous month. Meanwhile, the ANZ survey revealed that the Australian job advertisements in newspapers and on the Internet rose for a third consecutive month in March, suggesting that the demand for labour in the nation is gaining momentum.
The pair is expected to find support at 0.9241, and a fall through could take it to the next support level of 0.9196. The pair is expected to find its first resistance at 0.9321, and a rise through could take it to the next resistance level of 0.9356.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
