Commodity pairs (AUD, NZD, & CAD) gaining intra day's trading from a broad based weakness in dollar. A chart and table is attached for explanation. Aussie gained in today's trading after the currency snapped back from th…
Commodity pairs (AUD, NZD, & CAD) gaining intra day's trading from a broad based weakness in dollar. A chart and table is attached for explanation.
Aussie gained in today's trading after the currency snapped back from the support level last week. Motor vehicles sales in February increased mom by 2.9%.Speculators increased short bets on Aussie by -15306 contracts to total -76,851 contracts. Aussie is currently trading at 0.765. Immediate Support lies at 0.757 & Resistance 0.775, 0.785.
Kiwi performing better as speculation over rate cut subsided over last week's RBNZ decision to hold rates. Speculators increased short bets by -1113 contracts to total -2480 contracts. Pair is currently trading at support 0.739; still struggling to break above the resistance. Immediate Support lies at 0.72 & Resistance 0.744, 0.752.
Canadian dollar continues to be the worst performer and tests the area of resistance. Speculators increased position mildly by -167 contracts to total -39,030 contract. The pair is currently trading at 1.276. Immediate Support lies at 1.262 & Resistance 1.284.
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