17th, Forex Analysis

Currencies linked to commodities have suffered intense selling pressure, largely motivated by the general fall of raw materials.

It was the case of the Australian dollar, which has broken down very important support levels. In this case it is the weakness of the yen that has also affected him as Japan is one of its principal customers and the fall in the exchange rate of its currency purchasing power has decreased.

We are seeing in other currencies as the Chilean peso, which after news that the central bank left its rates unchanged has reached new lows in the 480 against the dollar.

The Canadian dollar is one of these coins but in this case the above is added in June flows that tend to increase sales of the Canadian currency, as they are concentrated in this period and the payment bond maturities of coupons, which are largely repatriated to the countries of origin of the holders of these bonds.

For this reason and given the loonie graph, I can see that a close above current levels just 1.0250 projections could have at least one figure upward.