Contributors Fundamental Analysis Aussie Reverses Its Losses In The Asian Session

Aussie Reverses Its Losses In The Asian Session

For the 24 hours to 23:00 GMT, the AUD declined 7.47% against the USD and closed at 0.6388 on Friday.

LME Copper prices declined 0.1% or $2.5/MT to $5,118.0/MT. Aluminium prices marginally fell to $1,473.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6431, with the AUD trading 0.67% higher against the USD from Friday’s close.

The pair is expected to find support at 0.6366, and a fall through could take it to the next support level of 0.6300. The pair is expected to find its first resistance at 0.6468, and a rise through could take it to the next resistance level of 0.6504.

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

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