AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.84% against the USD to close at 0.7680.
LME Copper prices rose 0.07% or $4.0/MT to $5920.5/MT. Aluminium prices rose 2.29% or $40.5/MT to $1811.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7754, with the AUD trading 0.96% higher from yesterday’s close.
Early morning data showed that unemployment rate in Australia unexpectedly slipped to 6.1% in March, from previous month’s level of 6.2%, while markets were expecting it to rise to 6.3%. Additionally, number of people employed in the nation rose by 37.70 K in March, compared to market anticipations of an advance of 15.00 K, and following an increase of 15.60 K in the prior month.
Other economic data showed that Australia’s consumer inflation expectations advanced to 3.40% in April, up from previous month’s reading of 3.2%.
The pair is expected to find support at 0.7622, and a fall through could take it to the next support level of 0.7489. The pair is expected to find its first resistance at 0.7835, and a rise through could take it to the next resistance level of 0.7916.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
