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Commodity pairs (AUD, NZD, & CAD) continue to fade away after a major comeback yesterday however performance is mixed. A chart and table is attached for explanation.
- Aussie failed to gain as sellers continued their bid against it. Speculation increases for further rate cut by RBA after consumer inflation expectation worsened. Aussie is currently trading at 0.764, down close to 1% for the day. Immediate Support lies at 0.757 & Resistance 0.775, 0.785.
- Kiwi still the best performer this week after RBNZ kept interest rates steady, is the worst performer today. Pair is currently trading at support 0.733; fell sharply after it failed to break above the resistance. Immediate Support lies at 0.72 & Resistance 0.744, 0.752.
- Canadian dollar fell to new one month high against dollar. Unemployment rate worsened more than expected to 6.8%. The pair is currently trading at 1.278. Immediate Support lies at 1.262 & Resistance 1.284.
|
AUD |
-0.84% |
|
NZD |
-0.14% |
|
CAD |
-1.33% |
