AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.16% against the USD to close at 1.0305, on speculation that the US Federal Reserve may add stimulus after a report on Friday showed that US employers added fewer jobs than forecast.
In the Asian session, at GMT0300, the pair is trading at 1.0349, with the AUD trading 0.43% higher from yesterday’s close, after China swung back to a trade surplus in March, following a deficit of $31.48 billion in February.
LME Copper prices declined 1.0% or $86.0/MT to $2053.5/ MT. Aluminium prices declined 0.3% or $5.8/MT to $2053.5/ MT.
The pair is expected to find support at 1.0294, and a fall through could take it to the next support level of 1.0239. The pair is expected to find its first resistance at 1.0381, and a rise through could take it to the next resistance level of 1.0412.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
