AUDUSD Movement
On Friday, for the 24 hours to 23:00 GMT, AUD strengthened 0.50% against the USD to close at 1.0385.
Australia’s index of commodity prices increased 0.6% (M-o-M) in March, slower than a revised 1.4% rise in the previous month.
New York Federal Reserve President, William Dudley indicated that the improving economy would not stop the US Federal Reserve from completing its $600.0 billion bond buying program.
In the morning news, the TD-MI inflation gauge rose 0.6% in March, following a 0.2% increase in February.
LME Copper prices fell 0.7% or $63.8/MT to $9335.5/ MT. Aluminium prices dropped 0.4% or $9.8/ MT to $2589.3/ MT.
In the Asian session at 3:00GMT, the pair is trading at 1.0381, 0.04% lower from the New York session close.
The pair is expected to find first short term resistance at 1.0428, with the next resistance levels at 1.0476 and 1.0581, subsequently. The first support for the pair is seen at 1.0323, followed by next supports at 1.0266 and 1.0161respectively.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
