AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.34% against the USD to close at 0.7605.
LME Copper prices rose 0.04% or $2.5/MT to $5786.0/MT. Aluminium prices rose 0.26% or $4.5/MT to $1754.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.759, with the AUD trading 0.19% lower from yesterday’s close.
Early morning data showed that unemployment rate in Australia eased to 6.3% in February, from more than a 12-year high of 6.4% recorded in the preceding month. Additionally, number of employed people in the nation rose by 15.60 K in February, higher than market anticipations of an advance of 15.00 K. Number of people employed had registered a revised fall of 14.60 K in the previous month.
In other economic news, consumer inflation expectation in Australia dropped to 3.2% in March, compared to a reading of 4.0% registered in February.
The pair is expected to find support at 0.7556, and a fall through could take it to the next support level of 0.7521. The pair is expected to find its first resistance at 0.7629, and a rise through could take it to the next resistance level of 0.7668.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
