Contributors Fundamental Analysis Aussie Trading Higher In The Morning Session

Aussie Trading Higher In The Morning Session

For the 24 hours to 23:00 GMT, the AUD rose 0.48% against the USD and closed at 0.6884.

LME Copper prices rose 0.6% or $34.5/MT to $6161.0/MT. Aluminium prices rose 0.4% or $7.5/MT to $1765.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.6896, with the AUD trading 0.17% higher against the USD from yesterday’s close.

The pair is expected to find support at 0.6871, and a fall through could take it to the next support level of 0.6846. The pair is expected to find its first resistance at 0.6911, and a rise through could take it to the next resistance level of 0.6926.

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

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