The commodity-based currencies are continuing to lose ground to the U.S. dollar as commodity prices fall.
USD/CAD (U.S. Dollar vs. Canadian Dollar)
Trend: The USD/CAD is currently retracing from its short-term uptrend.
Support: The USD/CAD is sitting at support at 1.0450.
Resistance: The USD/CAD is facing resistance at about 1.0550. After that, it faces resistance at 1.0750.
AUD/USD (Australian Dollar vs. U.S. Dollar)
Trend: The AUD/USD continues to drift lower.
Support: The AUD/USD appears to have support at 0.8200. If it breaks through this level, watch for a drop to 0.8100.
Resistance: The AUD/USD hit resistance at 0.8550.
