Currency snapshot (commodity pairs)

Dollar index trading at 93.11 (+0.05%)

Strength meter (today so far) – Aussie +0.15%, Kiwi +0.27%, Loonie +0.90%

Strength meter (since last week) – Aussie -0.58%, Kiwi -0.15%, Loonie -0.72%

AUD/USD –

Trading at 0.757

Trend meter –

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

Support –

• Long term – 0.746, Medium term – 0.75, Short term – 0.765 (broken)

Resistance –

• Long term – 0.825, Medium term – 0.8, Short term – 0.78

Economic release today –

• NIL

Commentary –

• Aussie is down this week as the dollar recovers and commodity prices remain weak.

NZD/USD –

Trading at 0.685

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.68, Short term – 0.69 (testing)

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. It gave up earlier gains as confidence data declines sharply.

 USD/CAD –

Trading at 1.278

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 (testing)

Economic release today –

• Employment rose by 79,500 in November and unemployment rate declines by 0.4 percent to 5.9 percent.

Commentary –

• Loonie is the worst performer this week on lower exports of crude oil amid lower price of West Canada Select. However, it has recovered sharply after blockbuster unemployment report.

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