Currency snapshot (commodity pairs)

Commodity pairs (AUD, NZD, & CAD) as a pact better than the majors as rate outlook improved. A chart and table is attached for explanation.

• Aussie is struggling to hold on to its gain made over the rate hold by RBA earlier today however the pair has recovered its losses completely. Nevertheless could face resistance as RBA kept rates on hold but maintained the dovish bias. Tomorrow's GDP data is the next focus. The pair is trading at 0.782. Immediate Support lies at 0.767 & Resistance 0.792.

• Kiwi still continuing its short range looking for a queue for further movement. Pair is trading at 0.753. No major event risk ahead the pair might continue the sideways with bullish bias. Pair is currently trading at 0.754. Immediate Support lies at 0.742 & Resistance 0.762.

• Canadian dollar has gained over the positive GDP data and awaits the policy decision tomorrow. It is widely expected that BOC to hold rates steady. GDP grew at 2.4 percent in the fourth quarter compared to a previous 3.2 percent but well above market expectation of 2 percent. Currently trading at 1.245. Immediate Support lies at 1.235 & Resistance 1.272.