AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 1.99% against the USD to close at 0.8013, extending its previous session gains.
LME Copper prices rose 0.49% or $29.5/MT to $6090.5/MT. Aluminium prices rose 2.22% or $40.5/MT to $1868.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7986, with the AUD trading 0.34% lower from yesterday’s close.
Early this morning, in China, Australia’s biggest trading partner, data showed that Chinese Westpac-MNI consumer sentiment slipped to a level of 111.1 in April, compared to a reading of 114.7 in the preceding month.
The pair is expected to find support at 0.7887, and a fall through could take it to the next support level of 0.7787. The pair is expected to find its first resistance at 0.8057, and a rise through could take it to the next resistance level of 0.8128.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
