AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.38% against the USD to close at 1.0110.
In the Asian session at 4:00GMT, the pair is trading at 1.0087, 0.23% lower from the New York session close. In the morning news, Australian Bureau of Statistics stated the unemployment rate in Australia held steady in January, remaining at a seasonally adjusted 5.0%, in line with expectations.
LME Copper prices rose 0.7% or $69.3/MT to $9,999.5/ MT. Aluminium prices rose 0.7% or $18.0/ MT to $2,537.5/ MT.
The pair is expected to find first short term resistance at 1.0131, with the next resistance levels at 1.0174 and 1.0247, subsequently. The first support for the pair is seen at 1.0058, followed by next supports at 1.0028 and 0.9955 respectively.
With no key economic releases in the day ahead, AUD is expected to ride on general market cues against the greenback.
The pair is trading well below its 20 Hr and 50 Hr moving average.
