Aussies Reverses Previous Session Gains

Aussies Reverses Previous Session Gains

For the 24 hours to 23:00 GMT, AUD strengthened 0.26% against the USD to close at 1.0564.

LME Copper prices declined 0.5% or $41.0/MT to $8029.8/MT. Aluminium prices declined 0.7% or $14.5/MT to $2062.3/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0546, with the AUD trading 0.17% lower from yesterday’s close.

The pair is expected to find support at 1.0532, and a fall through could take it to the next support level of 1.0518. The pair is expected to find its first resistance at 1.0569, and a rise through could take it to the next resistance level of 1.0591.