AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD traded a tad lower against the USD to close at 0.7716.
LME Copper prices declined 0.45% or $27.0/MT to $5975.0/MT. Aluminium prices declined 1.72% or $32.0/MT to $1826.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7761, with the AUD trading 0.58% higher from yesterday’s close.
Early morning data showed that the consumer price index in Australia rose 0.2% QoQ in the first quarter of 2015, higher than market expectations for an advance of 0.1%. The index had risen 0.2% in the previous quarter.
Other economic data indicated that Australia’s Westpac leading index registered a drop of 0.30% on a monthly basis in March, following a revised rise of 0.10%.
The pair is expected to find support at 0.7704, and a fall through could take it to the next support level of 0.7647. The pair is expected to find its first resistance at 0.7796, and a rise through could take it to the next resistance level of 0.7832.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
