AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.06% against the USD to close at 1.0363.
In the US, the initial jobless claims declined to 388,000 for week ended 21st April, from 389,000 in previous week. Market was expecting the claims to drop to 375,000. Additionally, continuing jobless claims fell to 3.315 million for the week ended April 14th, compared to the preceding week’s revised level of 3.312 million.
In the Asian session, at GMT0300, the pair is trading at 1.0378, with the AUD trading 0.15% higher from yesterday’s close.
LME Copper prices rose 0.8% or $70.3/MT to $8355.5/ MT. Aluminium prices traded flat at $2,040.3/ MT.
The pair is expected to find support at 1.0357, and a fall through could take it to the next support level of 1.0335. The pair is expected to find its first resistance at 1.0400, and a rise through could take it to the next resistance level of 1.0421.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
