AUD/USD: Aussie trading lower, ahead of the RBA meeting minutes


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.74% against the USD and closed at 0.7316 on Friday.

LME Copper prices declined 0.3% or $16.0/MT to $5844.0/MT. Aluminium prices rose 0.1% or $1.0/MT to $1999.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7301, with the AUD trading 0.21% lower against the USD from Friday’s close.

The pair is expected to find support at 0.7264, and a fall through could take it to the next support level of 0.7228. The pair is expected to find its first resistance at 0.7328, and a rise through could take it to the next resistance level of 0.7356.

Looking ahead, investors will closely monitor the Reserve Bank of Australia’s (RBA) August meeting minutes, slated to release overnight.

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

This entry was posted in AUD/USD. Bookmark the permalink.

Comments are closed.