AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.13% against the USD and closed at 0.7468.
LME Copper prices rose 1.14% or $53.0/MT to $4694.5/MT. Aluminium prices declined 0.26% or $4.0/MT to $1552.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7466, with the AUD trading slightly lower from yesterday’s close.
Earlier in the session, data showed that Australia’s unemployment rate unexpectedly fell to 5.6% in August, touching its lowest level in almost three years, while markets had envisaged the unemployment rate to remain steady at 5.7%. The dip in jobless rate came despite the number of employed people dropping by 3.9K, following an increase of 26.2K in July. Meanwhile, the nation’s consumer inflation expectations fell to 3.3% in September, declining for the second consecutive month, compared to a reading of 3.5% in the prior month.
The pair is expected to find support at 0.7441, and a fall through could take it to the next support level of 0.7415. The pair is expected to find its first resistance at 0.7494, and a rise through could take it to the next resistance level of 0.7521.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
