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Australia’s NAB Business Confidence Remained Steady In The First Quarter

ByGCI Financial
Published 04/20/2017, 02:12 AM
Updated 03/09/2019, 08:30 AM
HG
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AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 0.71% against the USD and closed at 0.7499.

LME Copper prices declined 0.4% or $20.0/MT to $5600.5/MT. Aluminium prices declined 1.0% or $20.0/MT to $1895.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7509, with the AUD trading 0.13% higher against the USD from yesterday’s close.

Early morning data indicated that Australia’s NAB business confidence index remained unchanged at 6.0 in 1Q 2017.

The pair is expected to find support at 0.7486, and a fall through could take it to the next support level of 0.7463. The pair is expected to find its first resistance at 0.7534, and a rise through could take it to the next resistance level of 0.7559.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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