AUD/USD: Australia’s unemployment rate unexpectedly dropped in September

AUDUSD

AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.09% against the USD and closed at 0.6755.

LME Copper prices declined 1.1% or $61.0/MT to $5684.0/MT. Aluminium prices rose 0.1% or $1.5/MT to $1703.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6784, with the AUD trading 0.43% higher against the USD from yesterday’s close.

Overnight data showed that Australia’s seasonally adjusted unemployment rate unexpectedly fell to 5.2% in September, defying market expectations for a steady reading.

The pair is expected to find support at 0.6742, and a fall through could take it to the next support level of 0.6699. The pair is expected to find its first resistance at 0.6809, and a rise through could take it to the next resistance level of 0.6833.

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

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