Commodity Currencies Weekly Technicals – Most commodity currencies look to give back some of their recent gains versus the greenback

AUD/USD: Is starting to slip and is to drop towards its 2010-11 support line at 1.0202 as long as 1.0890 caps.

NZD/USD: Trades near its recent 29 year high at .8267 and may still reach the .8395 level before turning.

AUD/NZD: A top formation has been formed with the 1.2841/1.2640 support zone now being in focus.

USD/CAD: Still bangs against the .9800 resistance zone. Once surpassed the .9940/75 area will be eyed.

EUR/AUD: Has overcome the 200 day moving average at 1.3674 and thus targets the 1.3878/1.4038 area.

EUR/NZD: Tries to better the 200 day moving average at 1.8033 and may soon reach the 1.8191/1.8251 area.

EUR/CAD: Trades in 16 month highs at 1.4375. This is right in the major 1.4350/83 resistance zone, though.

 

 

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