AUD/USD: Aussie trading lower in the Asian session

AUDUSD

AUDUSD Movement

On Friday, the AUD weakened 1.24% against the USD to close at 0.7924, extending its previous session losses.

LME Copper prices declined 0.88% or $49.5/MT to $5581.0/MT. Aluminium prices declined 0.03% or $0.5/MT to $1830.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7882, with the AUD trading 0.53% lower from Friday’s close.

The pair is expected to find support at 0.7815, and a fall through could take it to the next support level of 0.7748. The pair is expected to find its first resistance at 0.7992, and a rise through could take it to the next resistance level of 0.8101.

Going forward, market participants await Australia’s NAB business confidence and business conditions data, scheduled in the early hours tomorrow.

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

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