AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.47% against the USD to close at 0.7782.
Yesterday, data showed that Australia’s AiG performance of construction index dropped to a level of 43.9 in February, following a level of 45.9 recorded in the preceding month.
LME Copper prices declined 0.44% or $26.0/MT to $5856.0/MT. Aluminium prices rose 0.06% or $1.0/MT to $1788.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7810, with the AUD trading 0.35% higher from yesterday’s close.
The pair is expected to find support at 0.7765, and a fall through could take it to the next support level of 0.7721. The pair is expected to find its first resistance at 0.7842, and a rise through could take it to the next resistance level of 0.7874.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
