AUD/USD: Aussie Dollar trading marginally lower in the morning session

AUDUSD

AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD slightly declined against the USD and closed at 0.7908.

LME Copper prices declined 0.4% or $29.0/MT to $6555.0/MT. Aluminium prices declined 1.1% or $22.0/MT to $2082.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7905, with the AUD trading a tad lower against the USD from yesterday’s close.

The pair is expected to find support at 0.7886, and a fall through could take it to the next support level of 0.7867. The pair is expected to find its first resistance at 0.792, and a rise through could take it to the next resistance level of 0.7935.

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

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