Aussie succumbed to the decline, falling strongly from 0.7419 to a new low at 0.7322.But the market is in a strongly oversold position and the downside will be limited.Expect some ranging 0.7320/60 initially today before dropping a few points lower again.A failure to hold below 0.7360 will be a preliminary sign of strength and a rise through 0.7420 will confirm it.Only a sharp drop through 0.7300 will suggest that a new phase down is underway with the initial objective at 0.7200.
Kiwi resumed its decline immediately and fell through its downside objective.The drop should extend a few points through 0.6075.
Dollar/Canada made a firm rise yesterday to suggest that it will still test the mvg avg resistance around 1.1315.
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