Aussie Trading On A Weaker Footing In The Asian Session
GCI Financial | Apr 30, 2015 02:21AM ET
For the 24 hours to 23:00 GMT, the AUD weakened 0.18% against the USD to close at 0.7999.
LME Copper prices rose 0.21% or $12.5/MT to $6103.0/MT. Aluminium prices rose 1.20% or $22.5/MT to $1890.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7998, with the AUD trading a tad lower from yesterday’s close.
Early morning data showed that private sector credit in Australia climbed 0.50% MoM in March, in line with market expectations. It had registered a similar rise in the prior month.
The pair is expected to find support at 0.7956, and a fall through could take it to the next support level of 0.7915. The pair is expected to find its first resistance at 0.8059, and a rise through could take it to the next resistance level of 0.8120.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
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