AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD traded flat against the USD to close at 1.0360.
In the Asian session, at GMT0300, the pair is trading at 1.0336, with the AUD trading 0.23% lower from yesterday’s close, after Reserve Bank of Australia (RBA), in its minutes of its April 3 meeting, indicated that a weaker expansion flowing through to slower inflation would increase prospects for the first interest-rate cut this year.
LME Copper prices declined 1.4% or $111.5/MT to $8,053.8/ MT. Aluminium prices declined 0.9% or $19.3/MT to $2,026.5/ MT.
The pair is expected to find support at 1.0305, and a fall through could take it to the next support level of 1.0274. The pair is expected to find its first resistance at 1.0373, and a rise through could take it to the next resistance level of 1.0410.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
