AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 1.58% against the USD to close at 0.9911.
LME Copper prices rose 1.3% or $95.3/MT to $7459.3/ MT. Aluminium prices rose 0.4% or $8.3/MT to $1944.8/ MT.
In the Asian session, at GMT0300, the pair is trading at 0.9952, with the AUD trading 0.42% higher from yesterday’s close, following positive employment data from Australia.
This morning, in Australia, number of people employed rose by 38,900 in May, compared to a revised 7,000 gain in April. Separately, unemployment rate rose 5.1% in May in line with the market expectation. Additionally, AiG performance of construction index stood at 34.7 May, compared to a reading of 34.9 in April.
The pair is expected to find support at 0.9864, and a fall through could take it to the next support level of 0.9775. The pair is expected to find its first resistance at 1.0004, and a rise through could take it to the next resistance level of 1.0056.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
