AUD/USD: Aussie Pares Losses In The Morning Session

AUD/USD: Aussie Pares Losses In The Morning Session

For the 24 hours to 23:00 GMT, AUD weakened 0.54% against the USD to close at 0.9444.

LME Copper prices rose 3.0% or $211.0/MT to $7301.5/MT. Aluminium prices advanced 2.4% or $41.5/MT to $1783.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.9454, with the AUD trading 0.11% higher from yesterday’s close.

The pair is expected to find support at 0.9411, and a fall through could take it to the next support level of 0.9369. The pair is expected to find its first resistance at 0.9511, and a rise through could take it to the next resistance level of 0.9569.

Traders are expected to keep an eye on global economic news to determine further direction in the Aussie amid absence of economic releases in Australia.