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Fundamental Analysis

Aussie Dollar Trading Higher In The Morning Session

Typography

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.

Author: GCI FinancialWebsite: http://www.gcitrading.com/
GCI Financial
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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