AUD/USD: Aussie trading higher in the morning session


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.30% against the USD and closed at 0.7040 on Friday.

LME Copper prices rose 0.3% or $17.5/MT to $6393.0/MT. Aluminium prices declined 1.1% or $20.0/MT to $1832.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7054, with the AUD trading 0.20% higher against the USD from Friday’s close.

The pair is expected to find support at 0.7026, and a fall through could take it to the next support level of 0.6999. The pair is expected to find its first resistance at 0.7071, and a rise through could take it to the next resistance level of 0.7089.

With no macroeconomic releases in Australia today, investors would look forward to global macroeconomic releases for further direction.

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

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