COZforex: For the past trading session, AUD weakened 0.41% against the USD to close at 0.9082. The US Dollar gained traction, after the latest batch of upbeat economic releases from the US shifted speculations to an earlier-than-expected Fed tapering.
In commodities, LME Copper prices dropped 0.3% or $19.5/MT to $7051.5/MT. Aluminium prices declined 0.8% or $14.0/MT to $1721.0/MT.
The Australian Bureau of Statistics reported that private capital expenditure in the nation rise 3.6% in the third quarter, compared to a 1.6% rise registered in the preceding quarter. Separately, another report revealed that HIA new home sales declined 3.8% in October, following a 6.4% rise in September.
In technical analysis, COZFX strategist Nigel Boynton said, AUD/USD is predicted to find support at 0.9081, and a decline through could take it to the next support line of 0.9033. Meanwhile, the pair is predicted to find its first resistance at 0.9159, and a rise through could take it to the next resistance line of 0.9189.
In the absence of any other economic releases from Australia ahead in the day, market participants would eye global economic news for further cue in the pair.
(COZ forex UK)
In commodities, LME Copper prices dropped 0.3% or $19.5/MT to $7051.5/MT. Aluminium prices declined 0.8% or $14.0/MT to $1721.0/MT.
The Australian Bureau of Statistics reported that private capital expenditure in the nation rise 3.6% in the third quarter, compared to a 1.6% rise registered in the preceding quarter. Separately, another report revealed that HIA new home sales declined 3.8% in October, following a 6.4% rise in September.
In technical analysis, COZFX strategist Nigel Boynton said, AUD/USD is predicted to find support at 0.9081, and a decline through could take it to the next support line of 0.9033. Meanwhile, the pair is predicted to find its first resistance at 0.9159, and a rise through could take it to the next resistance line of 0.9189.
In the absence of any other economic releases from Australia ahead in the day, market participants would eye global economic news for further cue in the pair.
(COZ forex UK)