AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.20% against the USD to close at 1.0453, as Australian GDP rose in the Q3 FY2012.
LME Copper prices rose 0.4% or $30.8/MT to $8021.5/MT. Aluminium prices declined 0.3% or $5.8/MT to $2094.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0475, with the AUD trading 0.21% higher from yesterday’s close, after jobs data came in stronger-than-expected.
In a report, the Australian Bureau of Statistics indicated that Australian unemployment rate fell to a seasonally adjusted 5.2% in November from 5.4% in October. Analysts had expected Australian unemployment rate to rise to 5.5% last month. Additionally, the Australian economy added 13,900 jobs in November compared to 10,100 in the preceding month, whose figure was revised down from 10,700. Markets had expected Australian employment change to rise by just 2,000 last month.
The pair is expected to find support at 1.0449, and a fall through could take it to the next support level of 1.0423. The pair is expected to find its first resistance at 1.0493, and a rise through could take it to the next resistance level of 1.0511.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
