Aussie Trading On A Weaker Footing This Morning
GCI Financial | Sep 26, 2016 05:11AM ET
For the 24 hours to 23:00 GMT, the AUD declined 0.41% against the USD and closed at 0.7614 on Friday.
LME Copper prices declined 0.01% or $0.5/MT to $4815.0/MT. Aluminium prices rose 1.61% or $26.0/MT to $1637.5/MT.
In the Asian session, at GMT0300, the pair is trading at 0.7608, with the AUD trading 0.08% lower against the USD from Friday’s close.
The pair is expected to find support at 0.7590, and a fall through could take it to the next support level of 0.7571. The pair is expected to find its first resistance at 0.7640, and a rise through could take it to the next resistance level of 0.7671.
Amid no economic releases in Australia today, investor sentiment would be governed by global macroeconomic events.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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