AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.34% against the USD, on Friday, to close at 0.9812, as better-than-expected US jobs data raised demand for high yielding assets.
In the US, the total non-farm payroll employment increased by 103,000 jobs in September, compared to 57,000 in the previous month. Additionally, the unemployment rate remained unchanged at 9.1% in September.
In the Asian session, at GMT0300, the pair is trading at 0.9821, with the AUD trading 0.09% higher from Friday’s close.
LME Copper prices rose 2.2% or $154.3/MT to $7,249.5/ MT. Aluminium prices rose 0.3% or $6.5/MT to $2,176.3/ MT.
The pair is expected to find support at 0.9768, and a fall through could take it to the next support level of 0.9714. The pair is expected to find its first resistance at 0.9861, and a rise through could take it to the next resistance level of 0.9900.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
