Currency snapshot (commodity pairs)

Dollar index trading at 93.54 (-0.16%)

Strength meter (today so far) – Aussie +0.03%, Kiwi +0.11%, Loonie -0.06%

Strength meter (since last week) – Aussie +0.33%, Kiwi +0.20%, Loonie -0.12%

AUD/USD –

Trading at 0.766

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 remains weak.

NZD/USD -

Trading at 0.7

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 –

• ANZ activity outlook rose to 15.6 percent in December.
• ANZ business confidence came at -37.8
• Trade balance report will be released at 21:45 GMT.

Commentary –

• Kiwi is up in line with the Auzzie over USD weakness.

 USD/CAD –

Trading at 1.288

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 – 1.30

Economic release today –

• NIL

Commentary –

• Loonie is the worst performer of the week.

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