AUD/USD: Australia’s consumer inflation expectations climbed in August


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.18% against the USD and closed at 0.7160.

LME Copper prices rose 0.4% or $22.5/MT to $6,379.0 /MT. Aluminium prices climbed 0.3% or $4.5/MT to $1,754.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.717, with the AUD trading 0.14% higher against the USD from yesterday’s close.

Overnight data showed that Australia’s consumer inflation expectations rose to 3.3% in August, compared to 3.2% in the prior month. Additionally, the unemployment rate climbed less-than-expected 7.5% in July, compared to a rate to 7.4% in the prior month.

The pair is expected to find support at 0.7123, and a fall through could take it to the next support level of 0.7077. The pair is expected to find its first resistance at 0.7202, and a rise through could take it to the next resistance level of 0.7235.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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