AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD declined 0.29% against the USD and closed at 0.6884.
LME Copper prices declined 0.4% or $25.5/MT to $5,734.0/MT. Aluminium prices rose 0.3% or $4.0/MT to $1,577.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.6855, with the AUD trading 0.42% lower against the USD from yesterday’s close.
Overnight data showed that Australia’s unemployment rate rose to 7.1% in May, hitting its highest level since 2001 and compared to a revised rate of 6.4% in the prior month.
The pair is expected to find support at 0.6821, and a fall through could take it to the next support level of 0.6787. The pair is expected to find its first resistance at 0.6906, and a rise through could take it to the next resistance level of 0.6957.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
