Currency snapshot (commodity pairs)

Dollar index trading at 99.03 (-0.15%)

Strength meter (today so far) - Aussie -0.34%, Kiwi -0.15%, Loonie -0.09%.

Strength meter (since last week) - Aussie -0.09%, Kiwi +0.17%, Loonie +0.22%.

AUD/USD 

Trading at 0.703

Trend meter 

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

Support 

• Long term - 0.60, Medium term - 0.69, Short term - 0.7

Resistance 

• Long term - 0.82, Medium term - 0.785 -0.79, Short term - 0.74

Economic release today 

• ANZ job advertisement grew by 0.4% in October.

Commentary                                                                                

• No major movement from Aussie today, however further downside beyond 0.7 mark is likely given persistent weakness in Chinese economy.

NZD/USD 

Trading at 0.653

Trend meter 

• Long term - Sell, Medium term - Range/sell, Short term - Range/Sell

Support 

• Long term - 0.56, Medium term - 0.625, Short term - 0.65

Resistance 

• Long term - 0.77, Medium term - 0.725, Short term - 0.68

Economic release today 

• NIL

Commentary 

• Kiwi is likely to drop further towards 0.635 area, however for the time being 0.65 area is providing some support.

USD/CAD 

Trading at 1.327

Trend meter 

• Long term - Buy, Medium term - Range, Short term - Range

Support 

• Long term - 1.19, Medium term - 1.28, Short term - 1.303,

Resistance 

• Long term - 1.38, Medium term - 1.35, Short term - 1.34

Economic release today 

• Housing starts for October came lower at 198,100.

Commentary 

• Canadian Dollar moving in consolidation and risks dropping against Dollar if oil price falls sharply beyond $43/barrel area.