Commodity Currencies Fall Against Some Majors
2024-10-25
2992
(fxcue news) - 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.
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