Aussie Trading Higher This Morning, Following Yesterday’s Fall
GCI Financial | Apr 24, 2014 03:03AM ET
For the 24 hours to 23:00 GMT, AUD weakened 0.86% against the USD to close at 0.9289, following Australian consumer inflation data.
LME Copper prices rose 0.2% or $16.5/MT to $6645.0/MT. Aluminium prices declined 0.6% or $11.5/MT to $1835.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.9291, with the AUD trading slightly higher from yesterday’s close.
Earlier today, data from China, Australia’s largest trading partner, showed that the CB leading index rose 1.2% in March to a reading of 285.7, compared to a 0.9% increase in February.
The pair is expected to find support at 0.9267, and a fall through could take it to the next support level of 0.9243. The pair is expected to find its first resistance at 0.9314, and a rise through could take it to the next resistance level of 0.9337.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
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