Currency snapshot (commodity pairs)

Dollar index trading at 94.02 (-0.08%)

Strength meter (today so far) – Aussie +0.10%, Kiwi +0.08%, Loonie +0.04%

Strength meter (since last week) – Aussie +0.80%, Kiwi +1.58%, Loonie -0.16%

AUD/USD –

Trading at 0.756

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 up this week as the dollar retraces last week’s gain and higher commodity price.

Trading at 0.694

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 the best performer of the week as NZ Superannuation Fund chief Adrian Orr to become next RBNZ chief.

 USD/CAD –

Trading at 1.287

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 –

• NIL

Commentary –

• Loonie is the worst performer of the week.

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