AUDUSD Movement
On Friday, the AUD weakened 0.84% against the USD to close at 0.7717.
LME Copper prices declined 0.50% or $29.5/MT to $5826.5/MT. Aluminium prices declined 0.17% or $3.0/MT to $1785.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7695, with the AUD trading 0.29% lower from Friday’s close.
Earlier today, data showed that ANZ job advertisements in Australia rose 0.90% MoM in February. In the previous month, ANZ job advertisements had recorded a revised rise of 1.20%.
Over the weekend, in China, Australia’s biggest trading partner, trade surplus unexpectedly advanced to $60.62 billion in February, from previous month’s level of $60.03 billion.
The pair is expected to find support at 0.7636, and a fall through could take it to the next support level of 0.7577. The pair is expected to find its first resistance at 0.7801, and a rise through could take it to the next resistance level of 0.7908.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
