AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.72% against the USD to close at 1.0313.
In the Asian session, at GMT0300, the pair is trading at 1.0375, with the AUD trading 0.61% higher from yesterday’s close, amid strong Australian jobs report.
This morning, in Australian economic news, the unemployment rate remained steady at 5.2% in March, compared to previous month. The Australia economy added 44,000 jobs in March, after losing over 15,000 in previous month. Market had expected an increase of 6,500 jobs in March. Additionally, the Consumer Inflation Expectation Index rose 3.3% in April, compared to 2.7% rise in March.
LME Copper prices declined 1.7% or $143.3/MT to $8,112.5/ MT. Aluminium prices declined 0.7% or $14.5/MT to $2,035.8/ MT.
The pair is expected to find support at 1.0293, and a fall through could take it to the next support level of 1.0211. The pair is expected to find its first resistance at 1.0421, and a rise through could take it to the next resistance level of 1.0467.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
