AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.33% against the USD to close at 1.0221.
LME Copper prices declined 0.7% or $58.8/MT to $8124.3/MT. Aluminium prices declined 2.4% or $49.0/MT to $1991.5/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0284, with the AUD trading 0.61% higher from yesterday’s close, after the Australian government revealed that the country added more jobs in September.
Data released in the morning revealed that the Australian economy added 14,500 jobs in September, following a revised 9,100 jobs drop in the previous month. Meanwhile, on a seasonally adjusted basis, unemployment rate in Australia advanced 5.4% in September, compared to 5.1% in August. Additionally, annual inflation expectations in Australia rose to 2.6% in October, compared to 2.4% in September.
The pair is expected to find support at 1.0227, and a fall through could take it to the next support level of 1.0170. The pair is expected to find its first resistance at 1.0314, and a rise through could take it to the next resistance level of 1.0344.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
