AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 0.61% against the USD to close at 0.7735.
LME Copper prices rose 0.94% or $56.5/MT to $6045.5/MT. Aluminium prices rose 0.23% or $4.0/MT to $1727.0/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7773, with the AUD trading 0.48% higher from yesterday’s close.
Earlier today, data showed that unemployment rate in Australia surprisingly fell to 6.0%, its lowest level in a year in May, from a downwardly revised 6.1% in April. Markets were expecting the nation’s jobless rate to rise to 6.2%. Additionally, number of employed people jumped by 42,000 in May, compared with an expected increase of 15,000.
In other economic news, consumer inflation expectations in the nation eased to 3.0% in June, from prior month’s level of 3.6%.
The pair is expected to find support at 0.7674, and a fall through could take it to the next support level of 0.7575. The pair is expected to find its first resistance at 0.7833, and a rise through could take it to the next resistance level of 0.7894.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
