Aussie Trading Lower In The Asian Session
GCI Financial | Dec 17, 2014 12:42AM ET
For the 24 hours to 23:00 GMT, the AUD strengthened 0.11% against the USD to close at 0.8221.
LME Copper prices declined 2.59% or $170.0/MT to $6390.0/MT. Aluminium prices declined 2.17% or $41.5/MT to $1875.0/MT.
In the Asian session, at GMT0400, the pair is trading at 0.8159, with the AUD trading 0.75% lower from yesterday’s close.
Earlier today, data from Australia showed that internet skilled vacancies in the nation eased 0.8% on a monthly basis in November, following a flat reading registered in October.
Elsewhere, in China, Australia’s biggest trading partner, the MNI business sentiment index recorded a rise to 56.2 in December, compared to previous month’s level of 55.2.
Overnight data indicated that the Westpac leading index in Australia slid 0.06% on a MoM basis in November, after advancing 0.07% in the prior month.
The pair is expected to find support at 0.8118, and a fall through could take it to the next support level of 0.8076. The pair is expected to find its first resistance at 0.8238, and a rise through could take it to the next resistance level of 0.8317.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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