AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.71% against the USD to close at 1.0770, amid strong Australian jobs data.
The unemployment rate remained steady at 4.9% in June, while 23,400 jobs were added in June.
In the Asian session at 3:00GMT, the pair is trading at 1.0767, 0.03% lower from yesterday’s close at 23:00 GMT.
LME Copper prices rose 1.1% or $105.0/MT to $9,536.8/ MT. Aluminium prices rose 0.5% or $12.3/MT to $2,528.8/ MT.
The pair is expected to find first short term resistance at 1.0792, with the next resistance levels at 1.0817 and 1.0878, subsequently. The first support for the pair is seen at 1.0731, followed by next supports at 1.0695 and 1.0634 respectively.
With no major release from Australia, the pair is expected to ride on other market cues.
The currency pair is showing convergence with its 20 Hr and is trading just above its 50 Hr moving average.
