AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.21% against the USD to close at 0.9005.
LME Copper prices declined 1.9% or $134.5/MT to $6892.0/MT. Aluminium prices declined 1.3% or $22.0/MT to $1731.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9054, with the AUD trading 0.54% higher from yesterday’s close.
Australian economic data released this morning showed that nation’s employers cut 10,200 jobs in July, after adding a downwardly revised 9,300 workers in June. Unemployment rate remained steady at 5.7% in July.
In China, trade surplus contracted to $17.82 billion in July, down from $27.12 billion in June.
The pair is expected to find support at 0.8958, and a fall through could take it to the next support level of 0.8861. The pair is expected to find its first resistance at 0.9112, and a rise through could take it to the next resistance level of 0.9169.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
