Aussie Trading On A Stronger Footing In The Asian Session
GCI Financial | May 27, 2015 02:06AM ET
For the 24 hours to 23:00 GMT, the AUD weakened 1.12% against the USD to close at 0.7741.
LME Copper prices declined 1.02% or $63.0/MT to $6134.5/MT. Aluminium prices declined 0.90% or $15.5/MT to $1710.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7747, with the AUD trading 0.08% higher from yesterday’s close.
Earlier today, data showed that Australia’s Westpac leading index rose of 0.10% on a monthly basis in April, in Australia. The index had fallen 0.30% in the prior month.
The pair is expected to find support at 0.7701, and a fall through could take it to the next support level of 0.7655. The pair is expected to find its first resistance at 0.7817, and a rise through could take it to the next resistance level of 0.7888.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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