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

AUDUSD

AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD strengthened 1.46% against the USD to close at 0.7793.

LME Copper prices rose 2.25% or $133.5/MT to $6054.0/MT. Aluminium prices rose 2.54% or $46.0/MT to $1857.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7774, with the AUD trading 0.24% lower from yesterday’s close.

The pair is expected to find support at 0.7729, and a fall through could take it to the next support level of 0.7684. The pair is expected to find its first resistance at 0.7821, and a rise through could take it to the next resistance level of 0.7869.

Amid no economic releases in Australia today, investors await the release of the RBA minutes from its recent monetary policy meeting, scheduled next week.

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

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