For the 24 hours to 23:00 GMT, the AUD declined 3.34% against the USD and closed at 0.6711 on Friday.
LME Copper prices rose 0.4% or $21.0/MT to $5,737.0/MT. Aluminium prices climbed 0.2% or $3.0/MT to $1,704.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6724, with the AUD trading 0.19% higher against the USD from Friday’s close.
The pair is expected to find support at 0.6712, and a fall through could take it to the next support level of 0.6700. The pair is expected to find its first resistance at 0.6733, and a rise through could take it to the next resistance level of 0.6742.
Going ahead, traders would keep a close watch on the Reserve Bank of Australia’s (RBA) meeting minutes, due overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
