AUDUSD Movement
For the 24 hours to 23:00 GMT, AUD strengthened 0.75% against the USD to close at 1.0449.
In the US, initial claims for unemployment fell by down 26,000 to 359,000 for the week ended September 22, making it the lowest number of claims since the week ending July 21.
LME Copper prices rose 0.5% or $43.8/MT to $8174.0/MT. Aluminium prices rose 0.9% or $19.3/MT to $2067.8/MT.
In the Asian session, at GMT0300, the pair is trading at 1.0467, with the AUD trading 0.17% higher from yesterday’s close.
This morning, private sector credit in Australia rose 0.2% (MoM) in August, against the market expectation for a 0.3% rise.
The pair is expected to find support at 1.0409, and a fall through could take it to the next support level of 1.0350. The pair is expected to find its first resistance at 1.0500, and a rise through could take it to the next resistance level of 1.0533.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
