AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.27% against the USD to close at 0.7623.
LME Copper prices declined 1.50% or $88.0/MT to $5765.0/MT. Aluminium prices rose 0.51% or $9.0/MT to $1770.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7623, with the AUD trading flat from yesterday’s close.
Early morning data showed that the Westpac leading index in Australia rose 0.30% MoM in February. The index had climbed 0.10% in the previous month.
Elsewhere, in China, Australia’s biggest trading partner, the house price index dropped 5.7% in February, following a decline of 5.1% in January.
The pair is expected to find support at 0.7597, and a fall through could take it to the next support level of 0.757. The pair is expected to find its first resistance at 0.7659, and a rise through could take it to the next resistance level of 0.7694.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
