Aussie Trading On A Weaker Footing In The Asian Session
GCI Financial | May 28, 2015 02:44AM ET
For the 24 hours to 23:00 GMT, the AUD weakened 0.10% against the USD to close at 0.7733.
LME Copper prices declined 0.81% or $49.5/MT to $6085.0/MT. Aluminium prices declined 0.64% or $11.0/MT to $1699.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7686, with the AUD trading 0.61% lower from yesterday’s close.
Earlier today, data indicated that private capital expenditure in Australia fell 4.40% on a quarterly basis in Q1 2015, more than market expectations for a 2.2% fall and compared to a revised drop of 1.70% in the previous quarter.
The pair is expected to find support at 0.7648, and a fall through could take it to the next support level of 0.7610. The pair is expected to find its first resistance at 0.7747, and a rise through could take it to the next resistance level of 0.7809.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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