Commodity pairs (AUD, NZD, & CAD) are doing much better than the majors despite very strong dollsr since yesterday. Performance is mixed for the day. A chart and table is attached for explanation. Aussie is the best perf…
Commodity pairs (AUD, NZD, & CAD) are doing much better than the majors despite very strong dollsr since yesterday. Performance is mixed for the day. A chart and table is attached for explanation.
Aussie is the best performer this week after RBA decided to pause on rate cut for now. In spite of that dollar is expected to gain against Aussie as China slows further and further rate cut is not ruled out. Aussie is currently trading at 0.784, up 0.72 percent today after last night's sell off. Immediate Support lies at 0.767 & Resistance 0.792.
Kiwi is the top loser this week and still struggling to gain above its resistance level. Pair is currently trading at 0.75. Immediate Support lies at 0.742 & Resistance 0.762.
Canadian dollar is treading water but doing well against the majors especially Euro and Franc today. Focus is on trade data to be published today. Currently trading at 1.24. Immediate Support lies at 1.235 & Resistance 1.272.
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