The Australian, New Zealand and Canadian dollars continue to fluctuate within wide trading ranges with one day of gains being followed by another day of losses.
Today, we are trading near the bottom of the range which means that the currency pairs will either break down against the US dollar and suffer sharp losses or revert back to their trading existing ranges. Commodity prices are basically unchanged today but they too are trading near pivotal levels and as a result we would not be surprised to see the trading ranges broken this week.
Written By Kathy Lien, Chief Currency Strategist for DailyFx.com