Commodity Currencies Fall Against Some Majors
28 October 2024 - 1:06PM
RTTF2
The Commodity currencies such as Australia, the New Zealand and
the Canadian dollars weakened against their major currencies in the
Asian session on Monday.
The Australian dollar fell to more than a 1-month low of 1.6391
against the euro, from Friday's closing value of 1.6341.
Against the U.S. and the Canadian dollars, the aussie slid to
nearly a 2-1/2-month low of 0.6579 and nearly a 1-1/2-month low of
0.9149 from last week's closing quotes of 0.6603 and 0.9172,
respectively.
The aussie edged down to 1.1039 against the NZ dollar, from
Friday's closing value of 1.1046.
If the aussie extends its downtrend, it is likely to find
support around 1.65 against the euro, 0.64 against the greenback,
0.90 against the loonie and 1.09 against the kiwi. The NZ dollar
fell to nearly a 3-month low of 0.5957 against the U.S. dollar and
more than a 2-month low of 1.8102 against the euro, from Friday's
closing quotes of 0.5977 and 1.8055, respectively.
The kiwi may test support near 0.57 against the greenback and
1.84 against the euro.
The Canadian dollars slid to nearly a 3-month low of 1.3907
against the U.S. dollar, from Friday's closing value of 1.3891.
The loonie edged down to 1.5007 against the euro, from last
week's closing value of 1.4993.
On the downside, the loonie may test support near 1.40 against
the greenback and 1.51 against the euro.
AUD vs US Dollar (FX:AUDUSD)
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