AUD/USD: Aussie trading on a stronger footing this morning


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.52% against the USD and closed at 0.7539 on Friday.

LME Copper prices rose 1.1% or $59.5/MT to $5714.5/MT. Aluminium prices rose 2.0% or $37.5/MT to $1884.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7567, with the AUD trading 0.37% higher against the USD from Friday’s close.

The pair is expected to find support at 0.7525, and a fall through could take it to the next support level of 0.7483. The pair is expected to find its first resistance at 0.7592, and a rise through could take it to the next resistance level of 0.7617.

Looking ahead, traders will await the release of Australia’s NAB business confidence index for February, due to release tomorrow.

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

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