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


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD declined 10.49% against the USD and closed at 0.6180 on Friday.

LME Copper prices marginally declined to $4,774.0/MT. Aluminium prices fell 0.1% or $1.5/MT to $1,506.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6143, with the AUD trading 0.60% lower against the USD from Friday’s close.

The pair is expected to find support at 0.6044, and a fall through could take it to the next support level of 0.5945. The pair is expected to find its first resistance at 0.6221, and a rise through could take it to the next resistance level of 0.6299.

Looking forward, investors would keep a watch on Australia’s private sector credit demand and new home sales, both for February, slated to release overnight.

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

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