AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD weakened 0.29% against the USD to close at 0.6960.
LME Copper prices rose 0.57% or $25.0 /MT to $4380.0 /MT. Aluminium prices declined 0.27% or $4.0 /MT to $1453.0 /MT.
In the Asian session, at GMT0400, the pair is trading at 0.6936, with the AUD trading 0.34% lower from yesterday’s close.
Early this morning, data showed that Australia’s unemployment rate remained steady at an almost two-year low level of 5.8% in December, compared to market expectations of an advance to a level of 5.9%. Also, the number of people employed eased by 1.0K during the same month, undershooting expectations for a loss of 10.0K jobs.
The pair is expected to find support at 0.6889, and a fall through could take it to the next support level of 0.6842. The pair is expected to find its first resistance at 0.7014, and a rise through could take it to the next resistance level of 0.7092.
Moving ahead, investors will look forward to Australia’s home loans data for November, scheduled to be released in the early hours tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
