AUD/USD: Aussie reverses its gains in the Asian session

AUDUSD

AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.3% against the USD and closed at 0.7119 on Friday.

LME Copper prices rose 0.7% or 44.5/MT to $6191.5/MT. Aluminium prices rose 0.7% or $15.0/MT to $2022.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7109, with the AUD trading 0.14% lower against the USD from Friday’s close.

The pair is expected to find support at 0.7081, and a fall through could take it to the next support level of 0.7054. The pair is expected to find its first resistance at 0.7143, and a rise through could take it to the next resistance level of 0.7178.

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

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