AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD weakened marginally against the USD to close at 1.0690.
In the Asian session, at GMT0400, the pair is trading at 1.0695, with the AUD trading 0.04% higher from yesterday’s close, after the The Australian Bureau of Statistics reported that unemployment rate fell to 5.1% in January, compared to 5.2% in December, the biggest decline in last 14 months.
Additionally, the Melbourne Institute showed that consumer inflation expectations fell to 2.5% in February, from 2.8% in January.
LME Copper prices declined 0.1% or $7.3/MT to $8395.3/ MT. Aluminium prices rose 0.5% or $10.5/MT to $2173.5/ MT.
The pair is expected to find support at 1.0650, and a fall through could take it to the next support level of 1.0606. The pair is expected to find its first resistance at 1.0758, and a rise through could take it to the next resistance level of 1.0821.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
