Fundamental Analysis

Aussie Dollar Trading Higher In The Morning Session


For the 24 hours to 23:00 GMT, the AUD declined 0.8% against the USD and closed at 0.7814 on Friday.

LME Copper prices rose 1.3% or $88.5/MT to $7008.5/MT. Aluminium prices rose 1.4% or $30.5/MT to $2159.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.782, with the AUD trading 0.08% higher against the USD from Friday’s close.

The pair is expected to find support at 0.7796, and a fall through could take it to the next support level of 0.7772. The pair is expected to find its first resistance at 0.7850, and a rise through could take it to the next resistance level of 0.7880.

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

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