AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 2.03% against the USD to close at 1.0160.
In the Asian session, at GMT0300, the pair is trading at 1.0182, with the AUD trading 0.22% higher from the yesterday’s close, following a report that showed that Australia’s jobless rate fell for the first time since March as number of people employed rose more-than-expected.
In Australia, this morning, the jobless rate declined to 5.2% in September, from a rate of 5.3% in August. The country added 20,400 jobs in September. Additionally, the consumer inflation expectation rose to 3.1% in September, compared to 2.8% in the previous month.
LME Copper prices rose 2.8% or $201.8/MT to $7,417.0/ MT. Aluminium prices rose 0.8% or $17.8/MT to $2,202.3/ MT.
The pair is expected to find support at 0.9968, and a fall through could take it to the next support level of 0.9753. The pair is expected to find its first resistance at 1.0315, and a rise through could take it to the next resistance level of 1.0447.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
