AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 1.36% against the USD to close at 0.7646.
LME Copper prices rose 1.70% or $84.0/MT to $5029.0/MT. Aluminium prices rose 0.57% or $8.5/MT to $1503.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7653, with the AUD trading 0.09% higher from yesterday’s close.
Early this morning, in China, Australia’s largest trading partner, the house price index recorded a rise of 3.6% YoY in February, while investors expected it to remain steady at 2.5%.
The pair is expected to find support at 0.7596, and a fall through could take it to the next support level of 0.7539. The pair is expected to find its first resistance at 0.7696, and a rise through could take it to the next resistance level of 0.7739.
Moving ahead, investors will look forward to Australia’s CB leading indicator and house price index data, both scheduled to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
