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 - EconoTimes)
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.
|
AUD |
0.45% |
|
NZD |
0.98% |
|
CAD |
0.04% |
