AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.60% against the USD to close at 0.7600.
LME Copper prices rose 1.47% or $74.0/MT to $5103.0/MT. Aluminium prices declined 0.37% or $5.5/MT to $1498.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7587, with the AUD trading 0.18% lower from Friday’s close.
Early this morning, in China, Australia’s largest trading partner, data showed that the nation’s MNI business sentiment index remained steady at a level of 49.9 in March, staying below the 50-mark threshold for the second consecutive month.
The pair is expected to find support at 0.7549, and a fall through could take it to the next support level of 0.7512. The pair is expected to find its first resistance at 0.7643, and a rise through could take it to the next resistance level of 0.7700.
Going ahead, investors will look forward to Australia’s Q4 house price index data, scheduled to release in the early hours tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
