AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.79% against the USD to close at 1.0545.
In the US, initial jobless claims jumped by 15,000 to a seasonally adjusted 382,000 in the week ended September 8, compared to the revised figure of 367,000 in its previous week. Additionally, the producer price index climbed 1.7% (MoM) in August, after a rise of 0.3% in July.
LME Copper prices declined 0.6% or $45.0/MT to $8055.3/MT. Aluminium prices rose 0.4% or $7.5/MT to $2081.8/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0572, with the AUD trading 0.26% higher from yesterday’s close.
The pair is expected to find support at 1.0474, and a fall through could take it to the next support level of 1.0377. The pair is expected to find its first resistance at 1.0624, and a rise through could take it to the next resistance level of 1.0677.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
