AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.22% against the USD to close at 1.0313, after a government report showed retail sales in Australia increased more-than-forecasted in February.
In Australia, building permits rises to -21.8% (Y-o-Y) in February from -24.8%. Retail sales rose to 0.5% (M-o-M) from 0.4% in January and private sector credit rose to 0.5% (M-o-M) from 0.3% in the previous month.
In the US, the private sector employment rose by 201,000 jobs in March, following a downwardly revised increase of 208,000 jobs reported in February.
LME Copper prices rose 0.7% or $69.8/MT to $9,519.3/ MT. Aluminium prices rose 0.1% or $3.5/ MT to $2,595.0/ MT.
In the Asian session at 3:00GMT, the pair is trading at 1.0330, 0.16% higher from the New York session close.
The pair is expected to find first short term resistance at 1.0366, with the next resistance levels at 1.0401 and 1.0487, subsequently. The first support for the pair is seen at 1.0280, followed by next supports at 1.0229 and 1.0143 respectively.
The currency pair is showing convergence with 20 Hr moving average and is trading just above its 50 Hr moving average.
