Currency snapshot (commodity pairs)

Dollar index trading at 89.86 (-0.26%)

Strength meter (today so far) – Aussie +0.29%, Kiwi +0.20%, Loonie -0.24%

Strength meter (since last week) – Aussie +0.56%, Kiwi +1.58%, Loonie +0.79%

AUD/USD –

Trading at 0.802

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

Resistance –

• Long term – 0.825, Medium term – 0.8, Short term – 0.8 (testing)

Economic release today –

• NIL

Commentary –

• Aussie declined sharply as U.S. imposes tariffs on Chinese goods such as solar panels but up on weaker dollar.

NZD/USD -

Trading at 0.737

Trend meter –

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

Support –

• Long term – 0.68, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.76, Medium term – 0.735, Short term – 0.735 (testing)

Economic release today –

• Fourth quarter consumer price inflation report will be released at 21:45 GMT.

Commentary –

• Kiwi is the best performer this week.

 USD/CAD –

Trading at 1.239

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 (broken)

Resistance –

• Long term – 1.355, Medium term – 1.32, Short term – 1.30

Economic release today –

• NIL

Commentary –

• Loonie is likely to strengthen further from here.

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