Cozforex: Aussie dropped after Australian trade deficit widened in August

[kiriss5678]

Cozfx: In the Asian session, at GMT0300, AUD/USD is trading at 1.0217, with the AUD trading 0.12% lower from yesterday’s close. For the past trading session at 23:00 GMT, AUD weakened 0.24% against the USD to close at 1.0229, after data displayed that Australian trade deficit widened in August.

LME Copper prices dropped 0.8% or $63.3/MT to $8275.8/MT; Aluminium prices dropped 1.6% or $34.3/MT to $2069.5/MT.

In Australia, retail sales go up 0.2% in August compared to a fall of 0.8% in July. In addition, the building permits rise 6.4% in August from a revised 21.2 % fell in July.

Technically, AUD/USD is predicted to find its first resistance at 1.0240, and a rose through might take it to the next resistance line of 1.0264. Also, the pair is predicted to find support at 1.0188, and a fell through might take it to the next support point of 1.0159.

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