AUD/USD: Aussie trading on a stronger footing in the Asian session


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.58% against the USD and closed at 0.7431 on Friday.

LME Copper prices declined 1.2% or $73.5/MT to $6326.0/MT. Aluminium prices declined 1.3% or $28.5/MT to $2098.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7459, with the AUD trading 0.38% higher against the USD from Friday’s close.

The pair is expected to find support at 0.7403, and a fall through could take it to the next support level of 0.7348. The pair is expected to find its first resistance at 0.7488, and a rise through could take it to the next resistance level of 0.7518.

Going ahead, investor would closely monitor Australia’s NAB business conditions and the NAB business confidence, both for June, scheduled 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.