AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD rose 0.73% against the USD and closed at 0.7171.
LME Copper prices rose 0.7% or $42.0/MT to $5891.0/MT. Aluminium prices declined 2.6% or $53.5/MT to $1981.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7186, with the AUD trading 0.21% higher against the USD from yesterday’s close.
Overnight data revealed that Australia’s seasonally adjusted unemployment rate remained unchanged at its six-year low rate of 5.3% in August, in line with market expectations. Additionally, consumer inflation expectations also remained steady at a level of 4.0% in September.
The pair is expected to find support at 0.7120, and a fall through could take it to the next support level of 0.7054. The pair is expected to find its first resistance at 0.7226, and a rise through could take it to the next resistance level of 0.7266.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
