AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.60% against the USD to close at 1.0244.
LME Copper prices rose 0.4% or $30.3/MT to $7525.3/ MT. Aluminium prices rose 0.9% or $17.3/MT to $1872.3/ MT.
In the Asian session, at GMT0300, the pair is trading at 1.0193, with the AUD trading 0.50% lower from yesterday’s close.
This morning, in Australia, unemployment rate on a seasonally adjusted basis rose to 5.2% in June from 5.1% in May. Additionally, the number of employed fell 27,000 in June from 38,900 in the May. Separately, inflation expectations among Australian consumers increased notably in July.
The pair is expected to find support at 1.0156, and a fall through could take it to the next support level of 1.0118. The pair is expected to find its first resistance at 1.0256, and a rise through could take it to the next resistance level of 1.0318.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
