During Friday’s trading session AUD/USD traded within the range of 0.9230-0.9306 and closed at 0.9292.
Fundamental view
At 0:30 GMT on Monday the Australian Industry Group (AIG) is expected to announce the results from its survey on construction sector activity during March. The seasonally adjusted Performance of Construction Index for Australia came in at a reading of 44.2 in February. Values below the key level of 50.0 are indicative of contraction in activity. An improvement in the value of this indicator would provide a certain support to Australian dollar.
At 2:30 GMT on Monday the Australia and New Zealand Banking Group (ANZ) will publish data regarding the number of job advertisements in Australia in March. The corresponding index, based on a survey by ANZ, climbed 5.1% in February compared to January. An increase in the number of jobs would have a bullish effect on the Aussie.
Technical view
On Monday, according to Binary Tribune’s daily analysis, in case AUD/USD manages to breach the first resistance level at 0.9315, it will probably continue up to test 0.9352. In case the second key resistance is broken, the pair will probably attempt to advance to 0.9398.
If AUD/USD manages to breach the first key support at 0.9246, it will probably continue to slide and test 0.9200. With this second key support broken, the movement to the downside will probably continue to 0.9170.
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