AUD/USD: Aussie extends its losses in the Asian session


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 1.71% against the USD and closed at 0.6824 on Friday.

LME Copper prices declined 1.4% or $82.0/MT to $5968.0/MT. Aluminium prices declined 0.3% or $06.0/MT to $1775.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.6809, with the AUD trading 0.22% lower against the USD from Friday’s close.

The pair is expected to find support at 0.6788, and a fall through could take it to the next support level of 0.6766. The pair is expected to find its first resistance at 0.6844, and a rise through could take it to the next resistance level of 0.6878.

In the absence of key macroeconomic releases in Australia today due to a public holiday, investor sentiment would be governed by global macroeconomic factors.

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

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