Currency snapshot (commodity pairs)

Dollar index trading at 94.28 (-0.51%)

Strength meter (today so far) - Aussie +0.67%, Kiwi +1.88%, Loonie +0.22%.

Strength meter (since last week) - Aussie -0.82%, Kiwi +1.12%, Loonie -0.44%.

AUD/USD -

Trading at 0.726

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 reversing some of its earlier loss over weaker retail sales from US. 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 0.677

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.625, Short term - 0.66

Resistance -

• Long term - 0.72, Medium term - 0.68, Short term - 0.68

Economic release today -

• Business PMI to be released at 22:30 GMT.

Commentary -

• Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. However in the short term it might rise further. Kiwi is the best performer this week so far.

USD/CAD -

Trading at 1.299

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 -

• NIL

Commentary -                                                                                         

• Loonie is down beat over weaker oil price, however weaker Dollar is providing support. Loonie is at6 key support of 1.29, breaking which might lead sharp fall towards 1.2 area.