AUD/USD: Pair Trading Above Its MA's

AUD/USD: Pair Trading Above Its MA's

For the 24 hours to 23:00 GMT on Friday, the AUD strengthened 0.79% against the USD to close at 1.0460.

LME Copper prices declined 0.5% or $40.0/MT to $7675.8/MT. Aluminium prices rose 0.7% or $13.5/MT to $1928.8/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0455, with the AUD trading marginally lower from Friday’s close.

The pair is expected to find support at 1.0407, and a fall through could take it to the next support level of 1.0359. The pair is expected to find its first resistance at 1.0487, and a rise through could take it to the next resistance level of 1.0519.