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Commodity pairs (AUD, NZD, & CAD) lost further grounds in today's trading. A chart and table is attached for explanation.
- Aussie failed to gain above 0.77 levels against dollar but holding off well. Further losses can't be ruled out as the pair continues to fail at key resistance levels. Aussie is currently trading at 0.766. The pair has broken key lower support of 0.765. Immediate Support lies at 0.741 & Resistance 0.775.
- Kiwi is the top loser this week and declined sharply after key support level got broken over last week's non-farm report. Focus is on tomorrow's rate decision by RBNZ. Pair is currently trading at 0.728. Immediate Support lies at 0.722 & Resistance 0.744.
- Canadian dollar has broken from the recent squeeze and price pattern suggests that it could rally further and break above the high made in January. Next target could be 1.305. Currently trading at 1.263. Immediate Support lies at 1.24 & Resistance 1.272.
|
AUD |
-0.58% |
|
NZD |
-0.82% |
|
CAD |
-0.08% |
