Aussie Trading Lower, Ahead Of Australia’s Leading Indicator Data
GCI Financial | Aug 24, 2015 05:07AM ET
On Friday, the AUD declined 0.12% against the USD and closed at 0.7327.
LME Copper prices declined 0.29% or $14.5/MT to $5046.0/MT. Aluminium prices declined 1.33% or $20.5/MT to $1523.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7221, with the AUD trading 1.45% lower from Friday’s close.
The pair is expected to find support at 0.7161, and a fall through could take it to the next support level of 0.7100. The pair is expected to find its first resistance at 0.7322, and a rise through could take it to the next resistance level of 0.7422.
Australia’s CB leading indicator data for June, slated to release tonight, would be looked forward to by the investors.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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