AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 1.09% against the USD to close at 0.9046.
LME Copper prices rose 0.1% or $4.0/MT to $7169.5/MT. Aluminium prices rose 0.4% or $6.5/MT to $1769.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.9026, with the AUD trading 0.22% lower from yesterday’s close.
The Australian Bureau of Statistics revealed that 21,000 new jobs were created in November, surpassing expectations for a rise of 10,000 and after a decline of 700 witnessed in the previous month. Meanwhile, the unemployment rate stood at 5.8% last month, from 5.7% in the preceding month. Additionally, the inflation expectations edged up slightly to 2.1% in November from 1.9% in October, just above the lower boundary of the Reserve Bank of Australia’s (RBA) target band of 2%-3%.
The pair is expected to find support at 0.8977, and a fall through could take it to the next support level of 0.8927. The pair is expected to find its first resistance at 0.9108, and a rise through could take it to the next resistance level of 0.9189.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
