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Commodity Currencies Rise Against Most Majors
(RTTNews) - Commodity currencies such as the Australia, the New Zealand and the Canadian dollars strengthened against their most major currencies in the late Asian session on Monday.
The Australian dollar rose to 6-day highs of 0.6442 against the U.S. dollar and 0.8760 against the Canadian dollar, from early lows of 0.6388 and 0.8710, respectively.
The aussie advanced to a 1-week high of 1.6658 against the euro, from an early low of 1.6766.
Against the kiwi, the aussie edged up to 1.0866 from an early low of 1.0829.
The NZ dollar rose to a to 1-week high of 1.8091 against the euro and a 6-day high of 0.5934 against the U.S. dollar, from early lows of 1.8165 and 0.5896, respectively.
The Canadian dollar rose to a 6-day high of 1.3595 against the U.S. dollar, from an early low of 1.3636.
Against the euro, the loonie edged up to 1.4586 from an early low of 1.4611.
If the aussie extends its uptrend, it is likely to find resistance around 0.66 against the greenback, 0.89 against the loonie, 1.62 against the euro and 1.09 against the kiwi.
The kiwi may test resistance around 1.79 against the euro and 0.61 against the greenback.
On the upside, the loonie may test resistance around 1.33 against the greenback and 1.44 against the euro.
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