AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 2.07% against the USD to close at 1.0147.
In the US, on a seasonally adjusted basis, wholesale inventories rose 0.6% (M-o-M) to $458.7 billion in June.
This morning, the Australian Bureau of Statistics indicated that, on a seasonally adjusted basis, the jobless rate rose to 5.1% in July, from 4.9% in June.
In the Asian session at 3:00GMT, the pair is trading at 1.0234, 0.86% higher from yesterday’s close at 23:00 GMT.
LME Copper prices stood stable at $2.5/MT to $8,853.3/ MT. Aluminium prices rose 0.8% or $18.3/MT to $2,408.5/ MT.
The pair is expected to find first short term resistance at 1.0375, with the next resistance levels at 1.0515 and 1.0789, subsequently. The first support for the pair is seen at 1.0101, followed by next supports at 0.9967 and 0.9693 respectively.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
