AUD/USD: Aussie Dollar trading lower this morning


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 0.06% against the USD and closed at 0.7849.

LME Copper prices declined 0.3% or $21.0/MT to $6405.0/MT. Aluminium prices declined 0.7% or $14.5/MT to $2102.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7841, with the AUD trading 0.1% lower against the USD from yesterday’s close.

Early morning data indicated that Australia’s private sector credit advanced 0.5% on a monthly basis in August, compared to a similar rise in the previous month.

The pair is expected to find support at 0.7807, and a fall through could take it to the next support level of 0.7774. The pair is expected to find its first resistance at 0.7867, and a rise through could take it to the next resistance level of 0.7894.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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