AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.14% against the USD and closed at 0.7770.
LME Copper prices declined 0.40% or $27.5/MT to $6784.0/MT. Aluminium prices rose 0.72% or $17.0/MT to $2375.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7767, with the AUD trading slightly lower against the USD from yesterday’s close.
Data released overnight revealed that Australia’s Westpac leading index retreated 0.22% on a monthly basis in March, compared to a revised rise of 0.43% in the previous month.
The pair is expected to find support at 0.7754, and a fall through could take it to the next support level of 0.7742. The pair is expected to find its first resistance at 0.7785, and a rise through could take it to the next resistance level of 0.7804.
Looking ahead, market participants would await the release of Australia’s unemployment rate for March, due to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
