AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 1.21% against the USD to close at 0.7302.
LME Copper prices rose 0.33% or $17.5/MT to $5278.0/MT. Aluminium prices rose 0.58% or $9.0/MT to $1569.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7347, with the AUD trading 0.61% higher from yesterday’s close.
Early morning data showed that Australia’s unemployment rate remained unchanged at 6.2% in September, following a similar level recorded in the preceding month. Meanwhile, number of people in full-time employment fell by 13.9K during the same month, while those in part-time employment rose by 8.9K.
In other economic news, the nation’s consumer inflation expectations rose to 3.5% in October, compared to an increase of 3.2% in the previous month.
The pair is expected to find support at 0.7256, and a fall through could take it to the next support level of 0.7165. The pair is expected to find its first resistance at 0.7395, and a rise through could take it to the next resistance level of 0.7444.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
