Sunday, February 14, 2010

Commodities currencies end week on a strong note



FXstreet.com (Córdoba) – Currencies link to commodities managed to finish the week with important gains despite ending Friday slightly lower. 

AUD/USD rose on a weekly basis after falling in the previous four. The pair tested levels above 0.8900 and then pulled back finding support at 0.8780. 

USD/CAD fell more than 200 pips during the week and momentarily dropped below 1.0500. The pair rallied to the downside 260 pips from Tuesday to Thursday. 

NZD/USD rose for the first week after falling in the last five. The pair recovered after dropping a week ago to 0.6800 reaching the lowest level since September. The pair jumped almost 200 pips and finished on Friday near 0.7000. 

Commodities were helped by an increase in the price of raw materials and beneficiated by problems that European countries are facing. 

AUD/USD (Feb 14 at 21:47 GMT)

0.8875/78 (0.20%)

H 0.8887 L 0.8868

S3S2S1R1R2R3
0.88220.88440.88660.88760.88980.8920
[?]Trend Index[?]OB/OS Index
Slightly BearishNeutral
Data updated on Feb 14 at 21:43 (15-minute timeframe)

This article taken by www.fxstreet.com

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