AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.47% against the USD and closed at 0.7723.
LME Copper prices declined 1.9% or $131.0/MT to $6625.0/MT. Aluminium prices declined 1.9% or $38.0/MT to $1972.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7705, with the AUD trading 0.23% lower against the USD from yesterday’s close.
Overnight data revealed that Australia’s AiG performance of services index registered a rise to a level of 56.9 in March, rising at its fastest pace in 8 months. In the prior month, the index had registered a level of 54.0.
On the contrary, the nation’s seasonally adjusted trade surplus narrowed less-than-anticipated to A$825.0 million in February, compared to a revised surplus of A$952.0 million in the previous month, while markets were anticipating the nation’s trade surplus to narrow to A$725.00 million.
The pair is expected to find support at 0.7670, and a fall through could take it to the next support level of 0.7634. The pair is expected to find its first resistance at 0.7734, and a rise through could take it to the next resistance level of 0.7762.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
