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


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 9.07% against the USD and closed at 0.6278.

LME Copper prices declined 3.0% or $165.5/MT to $5,386.5/MT. Aluminium prices fell 1.6% or $27.5/MT to $1,643.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.6286, with the AUD trading 0.13% higher against the USD from yesterday’s close.

The pair is expected to find support at 0.6176, and a fall through could take it to the next support level of 0.6067. The pair is expected to find its first resistance at 0.6432, and a rise through could take it to the next resistance level of 0.6579.

With no macroeconomic releases in Australia today, investor sentiment would be determined by global macroeconomic news.

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

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