AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened 0.27% against the USD to close at 1.0299.
LME Copper prices declined 0.5% or $37.5/MT to $7777.5/MT. Aluminium prices rose 0.3% or $6.5/MT to $1945.5/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0364, with the AUD trading 0.63% higher from yesterday’s close, following encouraging employment figures in Australia.
The seasonally adjusted employment change increased 71.5K in February, well ahead of forecasts for an increase of 10.0K jobs and after a revised 13.0K jobs were added in the previous month. Meanwhile, the seasonally adjusted unemployment rate in Australia remained unchanged at 5.4% in February. Additionally, nation’s annual consumer price inflation expectations rose to 2.3% in March, from 2.2% reported in February.
The pair is expected to find support at 1.0303, and a fall through could take it to the next support level of 1.0241. The pair is expected to find its first resistance at 1.0405, and a rise through could take it to the next resistance level of 1.0445.
The currency pair is trading way above its 20 Hr and 50 Hr moving averages.
