Wed, Jun 23, 2021 @ 02:54 GMT
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Aussie Reverses Its Gains In The Morning Session

For the 24 hours to 23:00 GMT, the AUD rose 0.62% against the USD and closed at 0.6930.

LME Copper prices rose 0.2% or $14.0/MT to $6097.0/MT. Aluminium prices rose 0.2% or $3.5/MT to $1755.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.6928, with the AUD trading slightly lower against the USD from yesterday’s close.

The pair is expected to find support at 0.6891, and a fall through could take it to the next support level of 0.6854. The pair is expected to find its first resistance at 0.6952, and a rise through could take it to the next resistance level of 0.6976.

Moving ahead, traders would closely monitor the Reserve Bank of Australia meeting minutes along with Australia’s manufacturing and services PMI’s and unemployment rate, all slated to release next week.

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

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DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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