Currency snapshot (commodity pairs)

Dollar index trading at 94.02 (+0.28%)

Strength meter (today so far) – Aussie -0.01%, Kiwi +0.21%, Loonie +0.12%

Strength meter (since last week) – Aussie -1.29%, Kiwi -0.55%, Loonie -1.23%

AUD/USD –

Trading at 0.751

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 –

• Home loans down 0.6 percent in October.
• Investment lending for homes up 1.6 percent from a year ago.

Commentary –

• Aussie is down this week as the dollar recovers and data underwhelmed.

NZD/USD –

Trading at 0.684

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 is the best performer among commodity currencies but still down against the dollar.

 USD/CAD –

Trading at 1.284

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 –

• Housing starts for October will be reported at 13:15 GMT.

Commentary –

• Loonie is retracing this week after big gains on Friday over jobs report. .

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