Currency snapshot (commodity pairs)

Dollar index trading at 89.09 (-0.29%)

Strength meter (today so far) – Aussie -0.03%, Kiwi +0.11%, Loonie +0.09%

Strength meter (since last week) – Aussie -0.16%, Kiwi -0.03%, Loonie -0.33%

AUD/USD –

Trading at 0.809

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 – 0.85, Medium term – 0.825, Short term – 0.825

Economic release today –

• National Australia Bank’s business confidence rose to 11 in December and conditions to 13.

Commentary –

• Aussie is down this week as the dollar recovers.

NZD/USD -

Trading at 0.733

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 the best performer of the week but down against the dollar.

 USD/CAD –

Trading at 1.234

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range/Buy

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.22

Resistance –

• Long term – 1.3, Medium term – 1.28, Short term – 1.24

Economic release today –

• NIL

Commentary –

• Loonie is the worst performer of the week but likely to strengthen further.

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