Commodity Currencies Rise Against Majors
(RTTNews) - The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against some major currencies in the Asian session on Wednesday.
The Australian dollar rose to a 3-year high of 0.7129 against the U.S. dollar, nearly a 1-year high of 1.6712 against the euro and nearly a 5-year high of 0.9639 against the Canadian dollar, from early lows of 0.7073, 1.6811 and 0.9440, respectively.
Against the NZ dollar, the aussie jumped to nearly a 13-year high of 1.1757 from a 2-day low of 1.1478.
If the aussie extends its uptrend, it is likely to find resistance around 0.73 against the greenback, 1.66 against the euro, 1.02 against the loonie and 1.18 against the kiwi.
The NZ dollar rose to nearly a 2-week high of 0.6067 against the U.S. dollar and a 2-day high of 1.9637 against the euro, from early lows of 0.6040 and 1.9685, respectively.
If the kiwi extends its uptrend, it is likely to find resistance around 0.61 against the greenback and 1.94 against the euro.
The Canadian dollar rose to nearly a 2-week high of 1.3517 against the U.S. dollar, from an early low of 1.3554.
Against the euro, the loonie edged up to 1.6099 from an early low of 1.6121.
If the loonie extends its uptrend, it is likely to find resistance around 1.34 against the greenback and 1.59 against the euro.
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