AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.88% against the USD to close at 1.0752.
Australian dollar remained under pressure, on speculation that the Australian policy makers would maintain their interest rates till the end of third quarter, after the Reserve Bank of Australia left the interest rates unchanged at 4.75% on Tuesday.
In Australia, the retail sales declined by 0.5% (M-o-M) in March, first drop in 5 months. Meanwhile, the building permits, on monthly basis, rose to 9.1% in March from drop of 7.4% in February.
In the Asian session at 3:00GMT, the pair is trading at 1.0697, 0.51% lower from the New York session close.
LME Copper prices declined 0.8% or $71.3/MT to $9,171.3/ MT. Aluminium prices rose 0.5% or $13.0/MT to $2,753.3/ MT.
The pair is expected to find first short term resistance at 1.0822, with the next resistance levels at 1.0948 and 1.1140, subsequently. The first support for the pair is seen at 1.0630, followed by next supports at 1.0564 and 1.0372 respectively.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
