Currency snapshot (commodity pairs)

Dollar index trading at 94.78 (-0.10%)

Strength meter (today so far) - Aussie +0.56%, Kiwi +0.55%, Loonie -0.28%.

Strength meter (since last week) - Aussie +0.56%, Kiwi +0.55%, Loonie -0.28%.

AUD/USD -

Trading at 0.737

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range

Support -

• Long term - 0.60, Medium term - 0.65, Short term - 0.685, immediate - 0.695

Resistance -

• Long term - 0.83, Medium term - 0.785, Short term - 0.745

Economic release today -

• NIL

Commentary -                                                                               

• Aussie is the best performer today, continuing its more than 3% rise last week. Active call - Sell Aussie @ 0.76 with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65.

NZD/USD -

Trading at 0.673

Trend meter -

• Long term - Sell, Medium term - Range/sell, Short term - Range

Support -

• Long term - 0.56, Medium term - 0.60, Short term - 0.615

Resistance -

• Long term - 0.71, Medium term - 0.68, Short term - 0.68

Economic release today -

• NIL

Commentary -

• Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. Kiwi is continuing its rally today after gaining more than 4% last week.

USD/CAD -

Trading at 1.296

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support -

• Long term - 1.19, Medium term - 1.26, Short term - 1.29,

Resistance -

• Long term - 1.38, Medium term - 1.35, Short term - 1.35

Economic release today -

• Bank of Canada Governor Stephen Poloz scheduled to speak at 17:20 GMT.

Commentary -                                                                                         

• Loonie is the worst performer today as oil price weakened sharply.