AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.41% against the USD and closed at 0.7139.
LME Copper prices rose 0.5% or $33.0/MT to $6361.0/MT. Aluminium prices remained flat at $1856.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7104, with the AUD trading 0.49% lower against the USD from yesterday’s close.
Elsewhere in China, Australia’s largest trading partner, industrial profits plunged 14.0% on an annual basis in February, following a drop of 1.9% in the preceding month.
The pair is expected to find support at 0.7087, and a fall through could take it to the next support level of 0.7069. The pair is expected to find its first resistance at 0.7135, and a rise through could take it to the next resistance level of 0.7165.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
