AUD/USD: Pair trading well below its MA’s

AUD USD

AUDUSD Movemengt

For the 24 hours to 23:00 GMT, AUD weakened 0.13% against the USD to close at 1.0098.

In Australia, Assistant Governor of the Reserve Bank of Australia, Guy Debelle stated that growth over the next few years will be investment-intensive and likely to result into continued strong corporate bond issuance.

In Australia, sale of new motor vehicles rose by 0.2% in February, following a 2.4% contraction in January.

LME Copper prices rose 1.7% or $157.5/MT to $9,205.3/ MT. Aluminium prices rose 0.4% or $9.0/ MT to $2,499.5/ MT.

In the Asian session at 4:00GMT, the pair is trading at 0.9938, 1.58% lower from the New York session close.

The pair is expected to find first short term resistance at 1.0035, with the next resistance levels at 1.0133 and 1.0254, subsequently. The first support for the pair is seen at 0.9914, followed by next supports at 0.9891 and 0.9770 respectively.

The currency pair is trading well below its 20 Hr and 50 Hr moving averages.

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