AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.23% against the USD to close at 0.8319.
LME Copper prices rose 1.17% or $75.0/MT to $6476.0/MT. Aluminium prices rose 0.26% or $5.0/MT to $1950.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8332, with the AUD trading 0.16% higher from yesterday’s close.
Early morning data indicated that Australia’s unemployment rate climbed to 6.3% in November, at par with market estimates and after advancing 6.2% in the previous month. Meanwhile, number of employed people in the nation climbed more than expected by 42.7 K in November, against market expectations to add 15.0 K jobs and following a revised increase of 13.7 K registered in October.
In other economic news, Australia’s consumer inflation expectation eased to 3.4% in December, after registering a level of 4.1% in the previous month.
The pair is expected to find support at 0.8281, and a fall through could take it to the next support level of 0.8231. The pair is expected to find its first resistance at 0.8380, and a rise through could take it to the next resistance level of 0.8428.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
