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 - EconoTimes)
Commodity pairs (AUD, NZD, & CAD) held off well throughout last week but gave up after the release of NFP report. A chart and table is attached for explanation.
- Aussie is trying to gain some ground after Friday's bitter loss. Cot report showed that speculators held short positions at -61,500 contracts. Aussie is currently trading at 0.773. Immediate Support lies at 0.765 & Resistance 0.789.
- Kiwi lost nearly 300 points last week since it failed to break above the resistance of 0.762. Speculators maintained net short in NZD by -1300 contracts. Pair is currently trading at 0.737. Further losses can't be ruled out as key support is broken. Immediate Support lies at 0.722 & Resistance 0.75.
- Canadian dollar gained some grounds in today's trading so far after suffering big losses over non-farm payroll last Friday. Cot report showed speculators increased bets over further weakness at currently stands at -38800 contracts. Focus is on trade data to be published today. Currently trading at 1.26. Immediate Support lies at 1.24 & Resistance 1.272.
|
AUD |
0.26% |
|
NZD |
0.41% |
|
CAD |
0.16% |
