Commodity tied currencies feel pressure.......>

FOREX: Commodity tied currencies feel pressure from oil

-WTI touched below $46, down nearly 8% on the day which weighed on commodity

tied FX across the board. USDCAD continued to climb throughout the session

pushing through the 1.3494 level. Weaker than expected manufacturing sales

earlier won't have helped. Next up is the 10-dma envelope at C$1.3508.

-USDAUD remained below the 55-dma of 0.7186 at 0.7174 into the US close

-USDJPY extended its decline through up trendline support & the 100-dma to

112.25, before double-bottom support cushioned falls. The DXY rallied back above

the 97.100 level giving USDJPY momentum to build on as it climbs back above the

100-dma of 112.40 to 112.55. Bulls now target a move above 113.00.

-USDGBP touched above the 1.27 level early in the session, but failed to keep

the momentum throughout the afternoon as it continued to fall. Currently holding

near the 1.2640 level, bears are focused on a break below 1.25 as bulls look for

a substantial break through 1.27 for more stability.