Currency snapshot (commodity pairs)

Dollar index trading at 89.75 (-0.55%)

Strength meter (today so far) – Aussie +0.32%, Kiwi +0.22%, Loonie +0.24%

Strength meter (since last week) – Aussie +1.20%, Kiwi +1.38%, Loonie +1.40%

AUD/USD –

Trading at 0.808

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 (broken)

Economic release today –

• ANZ activity outlook index came at 15.6 percent.

Commentary –

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

NZD/USD -

Trading at 0.736

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 –

• NIL

Commentary –

• Kiwi is sharply higher on a weaker dollar.

 USD/CAD –

Trading at 1.231

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 – 1.32, Medium term – 1.30, Short term – 1.28

Economic release today –

• Retail sales rose 0.2 percent in November, up 1.6 percent excluding autos.

Commentary –

• Loonie rose to become the best performer of the week.

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