AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 3.83% against the USD and closed at 0.6677.
LME Copper prices rose 0.3% or $17.5/MT to $5,745.5/MT. Aluminium prices rose 0.3% or $5.0/MT to $1,686.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6636, with the AUD trading 0.61% lower against the USD from yesterday’s close.
Overnight data indicated that Australia’s unemployment rate rose to 5.3% in January, compared to 5.1% in the previous month.
The pair is expected to find support at 0.6608, and a fall through could take it to the next support level of 0.6580. The pair is expected to find its first resistance at 0.6686, and a rise through could take it to the next resistance level of 0.6736.
Moving ahead, investors would keep an eye on Australia’s Commonwealth Bank manufacturing & services PMIs for February, due overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
