By
GCI Financial |
Technical Analysis | Oct 21, 2011 10:55AM GMT |
In Australia, this morning, the Export Price Index increased 4.0% in third quarter of 2011, compared to 6.0% rise in the previous quarter. Additionally, Import Price Index remained unchanged in the September quarter following a 0.8% rise in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 1.0224, with the AUD trading 0.13% lower from yesterday’s close.
LME Copper prices declined 5.3% or $388.8/MT to $6,916.5/ MT. Aluminium prices declined 2.3% or $49.8/MT to $2,121.5/ MT.
The pair is expected to find support at 1.0149, and a fall through could take it to the next support level of 1.0073. The pair is expected to find its first resistance at 1.0299, and a rise through could take it to the next resistance level of 1.0373.
Please see the attached chart below.
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