A new week has brought a new (better) mood.
The commodity currencies weathered the risk-averse storm for the past two weeks and are turning higher. In general, the outperformers in a negative environment will be the outperformers when sentiment changes.
USD/CAD has slipped to 0.9964, which is the 50% retracement of the rally since election day.
AUD/USD is back above 1.04 and threatening a batch of strong offers at 1.0420. Technically, the upside is clear until 1.0455.
