AUD Reverses Its Losses, Despite A Fall In Australia’s Leading Indicator
GCI Financial | Aug 25, 2015 05:46AM ET
For the 24 hours to 23:00 GMT, the AUD declined 1.52% against the USD and closed at 0.7150.
LME Copper prices declined 3.13% or $158.0/MT to $4888.0/MT. Aluminium prices declined 2.49% or $38.0/MT to $1485.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7226, with the AUD trading 1.07% higher from yesterday’s close.
In economic news, Australia’s CB leading indicator in June declined by 0.2%, down from an increase of 0.2% in the previous month. Elsewhere, the CB leading economic index for China, Australia’s largest trading partner, rose by 0.9% in July, from a revised rise of 0.6% in the previous month.
The pair is expected to find support at 0.7088, and a fall through could take it to the next support level of 0.695. The pair is expected to find its first resistance at 0.7321, and a rise through could take it to the next resistance level of 0.7415.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
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