For the 24 hours to 23:00 GMT, the AUD declined 3.34% against the USD and closed at 0.6711 on Friday.
LME Copper prices rose 0.4% or $21.0/MT to $5,737.0/MT. Aluminium prices climbed 0.2% or $3.0/MT to $1,704.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.6724, with the AUD trading 0.19% higher against the USD from Friday’s close.
The pair is expected to find support at 0.6712, and a fall through could take it to the next support level of 0.6700. The pair is expected to find its first resistance at 0.6733, and a rise through could take it to the next resistance level of 0.6742.
Going ahead, traders would keep a close watch on the Reserve Bank of Australia’s (RBA) meeting minutes, due overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.