Fri, Dec 09, 2022 @ 15:35 GMT
HomeContributorsFundamental AnalysisAUD/USD: Aussie Trading A Tad Lower In The Morning Session

AUD/USD: Aussie Trading A Tad Lower In The Morning Session

For the 24 hours to 23:00 GMT, the AUD rose 0.35% against the USD and closed at 0.7551 on Friday.

LME Copper prices declined 0.7% or $43.0/MT to $5847.0/MT. Aluminium prices declined 0.5% or $10.0/MT to $1827.5/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7548, with the AUD trading marginally lower against the USD from Friday’s close.

The pair is expected to find support at 0.7513, and a fall through could take it to the next support level of 0.7477. The pair is expected to find its first resistance at 0.7578, and a rise through could take it to the next resistance level of 0.7607.

Moving ahead, Australia’s NAB business confidence index for December, scheduled to release in the early hours of tomorrow, will be on investor’s radar.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

GCI Financial
GCI Financialhttp://www.gcitrading.com/
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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