AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.64% against the USD to close at 0.7690.
LME Copper prices rose 0.23% or $14.0/MT to $6055.0/MT. Aluminium prices declined 0.56% or $10.0/MT to $1775.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7697, with the AUD trading 0.08% higher from yesterday’s close.
Overnight data showed that AiG performance of construction index for March came in at 50.1, following prior month’s level of 43.9, thus swinging back to expansion after four months of being mired in the contraction territory.
The pair is expected to find support at 0.7648, and a fall through could take it to the next support level of 0.76. The pair is expected to find its first resistance at 0.7737, and a rise through could take it to the next resistance level of 0.7778.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
