AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.22% against the USD to close at 0.9326.
LME Copper prices declined 0.8% or $52.0/MT to $6688.0/MT. Aluminium prices fell 1.2% or $21.0/MT to $1728.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9375, with the AUD trading 0.53% higher from yesterday’s close, as the Australia economy added more-than-expected 14,200 jobs in April and after unemployment rate came in unchanged at previous month’s seasonally adjusted level of 5.8%. Positive sentiment for the Aussie was also fuelled after reports from China, Australia’s largest trading partner, showed that exports and imports in the nation unexpectedly rose and that trade surplus in the world’s second largest economy surprisingly expanded to $18.46 billion in April.
The pair is expected to find support at 0.9336, and a fall through could take it to the next support level of 0.9296. The pair is expected to find its first resistance at 0.9396, and a rise through could take it to the next resistance level of 0.9416.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
