Aussie Trading Lower In The Asian Session
GCI Financial | Nov 26, 2015 18:23
For the 24 hours to 23:00 GMT, the AUD weakened 0.12% against the USD to close at 0.7255.
LME Copper prices rose 0.31% or $14.0/MT to $4541.0/MT. Aluminium prices declined 0.31% or $4.5/MT to $1428.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.724, with the AUD trading 0.2% lower from yesterday’s close.
Early morning data showed that Australia’s private capital expenditure declined 9.2% QoQ in Q3 2015, more than market expectations for a fall of 2.9%, and after falling by a revised 4.4% in the previous quarter.
The pair is expected to find support at 0.721, and a fall through could take it to the next support level of 0.718. The pair is expected to find its first resistance at 0.7278, and a rise through could take it to the next resistance level of 0.7315.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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