AUD/USD: Aussie trading lower in the morning session


AUDUSD Movement

For the 24 hours to 23:00 GMT, the AUD rose 0.56% against the USD and closed at 0.7200.

LME Copper prices rose 1.3% or $85.5/MT to $6,526.0/MT. Aluminium prices climbed 1.7% or $30.0/MT to $1,739.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7193, with the AUD trading 0.10% lower against the USD from yesterday’s close.

The pair is expected to find support at 0.7164, and a fall through could take it to the next support level of 0.7136. The pair is expected to find its first resistance at 0.7231, and a rise through could take it to the next resistance level of 0.7270.

Moving ahead, traders would keep a watch on Australia’s AiG performance of services index for July, slated to release overnight.

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

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