Aussie Trading Lower In The Asian Session
GCI Financial | Oct 30, 2014 01:53AM ET
For the 24 hours to 23:00 GMT, the AUD weakened 0.71% against the USD to close at 0.8790, amid a broad strengthening in the greenback.
LME Copper prices declined 0.07% or $4.5/MT to $6855.0/MT. Aluminium prices rose 1.08% or $21.5/MT to $2012.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8769, with the AUD trading 0.24% lower from yesterday’s close.
Early morning data indicated that, Australia’s HIA new home sales registered a flat reading on a monthly basis in September, after recording a rise of 3.3% in the prior month.
In other economic news, the nation’s export price index dropped less than expected on a quarterly basis in Q3 2014, while the import price index unexpectedly eased in the same period.
The pair is expected to find support at 0.8715, and a fall through could take it to the next support level of 0.8661. The pair is expected to find its first resistance at 0.8868, and a rise through could take it to the next resistance level of 0.8967.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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