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Aussie Trading Lower In The Asian Session

For the 24 hours to 23:00 GMT, the AUD declined 0.25% against the USD and closed at 0.7567 on Friday.

LME Copper prices declined 0.5% or $35.5/MT to $6728.5/MT. Aluminium prices declined 1.4% or $29.0/MT to $2077.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7554, with the AUD trading 0.17% lower against the USD from Friday’s close.

The pair is expected to find support at 0.7525, and a fall through could take it to the next support level of 0.7497. The pair is expected to find its first resistance at 0.7593, and a rise through could take it to the next resistance level of 0.7633.

Going forward, minutes of the Reserve Bank of Australia’s (RBA) November monetary policy meeting, due to release overnight, would garner significant amount of market attention.

he currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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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