AUD/USD: Aussie trading a tad higher in the morning session


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 0.55% against the USD and closed at 0.6892.

LME Copper prices rose 1.5% or $87.0/MT to $ 6089.0/MT. Aluminium prices increased 1.7% or $30.0/MT to $ 1832.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6894, with the AUD trading slightly higher against the USD from yesterday’s close.

The pair is expected to find support at 0.6875, and a fall through could take it to the next support level of 0.6856. The pair is expected to find its first resistance at 0.6923, and a rise through could take it to the next resistance level of 0.6952.

Looking ahead, investors would focus on the Reserve Bank of Australia’s policy meeting minutes, Australia’s Westpac leading index and the CBA manufacturing PMI, slated to release next week.

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

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