For the 24 hours to 23:00 GMT, the AUD rose 0.68% against the USD and closed at 0.7521.

LME Copper prices declined 0.72% or $49.0/MT to $6773.5/MT. Aluminium prices rose 0.28% or $6.5/MT to $2319.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7545, with the AUD trading 0.32% higher against the USD from yesterday’s close.

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Early morning data showed that Australia’s seasonally adjusted unemployment rate unexpectedly advanced to a nine-month high level of 5.6% in April, defying market consensus for it to remain steady at 5.5%.

The pair is expected to find support at 0.7485, and a fall through could take it to the next support level of 0.7424. The pair is expected to find its first resistance at 0.7577, and a rise through could take it to the next resistance level of 0.7608.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.


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