Currency snapshot (commodity pairs)

Dollar index trading at 94.28 (-0.25%)

Strength meter (today so far) – Aussie +0.22%, Kiwi -0.42%, Loonie -0.07%

Strength meter (since last week) – Aussie -0.27%, Kiwi -0.68%, Loonie -0.51%

AUD/USD –

Trading at 0.763

Trend meter –

• Long term – Range/Buy, Medium term – Buy, Short term – Range/Sell

Support –

• Long term – 0.746, Medium term – 0.765 (testing), Short term – 0.765 (testing)

Resistance –

• Long term – 0.825, Medium term – 0.825, Short term – 0.8

Economic release today –

• National Australia banks’ business confident index in October came unchanged at 8, while conditions improved to 21 from 14.

Commentary –

• Aussie is down this week on weaker commodity outlook.

NZD/USD –

Trading at 0.687

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Range/Sell

Support –

• Long term – 0.66, Medium term – 0.68, Short term – 0.68

Resistance –

• Long term – 0.76, Medium term – 0.76, Short term – 0.725

Economic release today –

• NIL

Commentary –

• Kiwi is consolidating around 0.69 area and is likely to decline towards 0.64 area.

 USD/CAD –

Trading at 1.274

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range/Buy

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.246

Resistance –

• Long term – 1.355, Medium term – 1.32, Short term – 1.28

Economic release today –

• NIL

Commentary –

• Loonie is down this week on stronger dollar, NAFTA uncertainty, and relatively weaker oil price.

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