AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.50% against the USD to close at 0.9813.
LME Copper prices declined 0.7% or $53.50/MT to $7276.0/MT. Aluminium prices declined 1.6% or $29.50/MT to $1811.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9809, with the AUD trading 0.04% lower from yesterday’s close, after the minutes from the Reserve Bank of Australia (RBA) confirmed the case for a further rate cut.
Economic data released this morning indicated that, the leading indicator in Australia rose 0.1% in March, following a 0.3% increase recorded in the previous month.
The pair is expected to find support at 0.9764, and a fall through could take it to the next support level of 0.9718. The pair is expected to find its first resistance at 0.9842, and a rise through could take it to the next resistance level of 0.9874.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
