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Commodity pairs (AUD, NZD, & CAD) are doing worse than the majors against dollar. A chart and table is attached for explanation.
- Aussie sell offs stabilized over broad based US dollar weakness. However any gains could be limited as RBA might ease policy again as indicated in today's minutes. Aussie is currently trading at 0.763. Immediate Support lies at 0.757 & Resistance 0.775, 0.785.
- Kiwi sell offs gained momentum after it failed to break above the resistance. Focus is on trade balance data to be released at 21:45 GMT and tomorrow's FOMC. Pair is currently trading at 0.735; failing to break above the support turned resistance. Immediate Support lies at 0.72 & Resistance 0.744, 0.752.
- Canadian dollar is the worst performer of the week trading flat today. Manufacturing shipments decreased by -1.7% mom in January. The pair is currently trading at 1.279. Immediate Support lies at 1.262 & Resistance 1.284.
|
AUD |
0.09% |
|
NZD |
0.44% |
|
CAD |
-0.16% |
