AUD/USD: Aussie Trading Higher in the Asian Session

AUD/USD: Aussie Trading Higher in the Asian Session

For the 24 hours to 23:00 GMT, AUD weakened 0.30% against the USD to close at 0.8887.

The US Dollar traded on a strong footing after strong economic data added to evidence of a recovering labour market in the US.

LME Copper prices rose 0.4% or $29.0/MT to $ 7280.0/MT. Aluminium prices declined 0.5% or $8.0/MT to $ 1710.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.8900, with the AUD trading 0.15% higher from yesterday's close.

This morning, economic data from China indicated that the nation's total profits of industrial firms during the first 11 months of 2013 climbed 13.2% to CNY5.33 trillion, compared with a growth of 13.7% in the same period last year.

The pair is expected to find support at 0.8882, and a fall through could take it to the next support level of 0.8863. The pair is expected to find its first resistance at 0.8912, and a rise through could take it to the next resistance level of 0.8923.