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


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 0.39% against the USD and closed at 0.6865 on Friday.

LME Copper prices declined 1.1% or $64.0/MT to $6025.0/MT. Aluminium prices rose 1.0% or $18.0/MT to $1850.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6914, with the AUD trading 0.71% higher against the USD from Friday’s close.

The pair is expected to find support at 0.6879, and a fall through could take it to the next support level of 0.6845. The pair is expected to find its first resistance at 0.6934, and a rise through could take it to the next resistance level of 0.6955.

Looking ahead, investors would focus on the Reserve Bank of Australia’s (RBA) policy meeting minutes and the RBA Governor, Philip Lowe’s speech, due overnight.

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

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