AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.16% against the USD to close at 0.9470.
LME Copper prices rose 0.7% or $50.0/MT to $7086.0/MT. Aluminium prices declined 0.3% or $5.5/MT to $1843.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9453, with the AUD trading 0.18% lower from yesterday’s close.
On the employment front, Australia registered a 1.1K increase in employment in May, against the expected drop by 10.0K, while the seasonally adjusted unemployment rate fell to 5.5% in May, from a downwardly revised rate of 5.6% recorded in April. Separately, consumer inflation expectations in Australia remained unchanged at 2.3% in June, from a similar rate recorded in May.
The pair is expected to find support at 0.9389, and a fall through could take it to the next support level of 0.9326. The pair is expected to find its first resistance at 0.9541, and a rise through could take it to the next resistance level of 0.9630.
The currency pair is trading just below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
