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Aussie lower in an uneventful morning part of the session

Wednesday, Jun 17 2015
This morning from Australia only minor importance MI Leading Index figures were released, showing 0.1% decrease. The Australian economy appears to have suffered a loss of momentum. After a promising start with four months of above-trend reads, the Leading Index growth rate has effectively dropped back to zero in May indicating a more subdued growth pulse in line with long run averages. 
 
The Australian dollar has been generally well supported during the yesterday's session, after initial decline, after minutes from the Reserve Banks May meeting failed to provide any further clues towards additional monetary easing. The RBA did repeat its plea for a lower currency it was the absence of an explicit easing bias which has been broadly AUD supportive.
 
Aussie fell in the Asian session and is currently being traded few points above 0.7720 level. Pair is likely to find support around 0.7680 area and resistance around 0.7780 level. Later today, in the US session, we can expect more volatility with FOMC interest rate decision and following statement being released.
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