Currency snapshot (commodity pairs)

Dollar index trading at 90.01 (+0.31%)

Strength meter (today so far) – Aussie -0.90%, Kiwi -0.39%, Loonie -0.38%

Strength meter (since last week) – Aussie -0.22%, Kiwi +0.03%, Loonie -0.48%

AUD/USD –

Trading at 0.779

Trend meter –

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

Support –

• Long term – 0.746, Medium term – 0.765, Short term – 0.765

Resistance –

• Long term – 0.85, Medium term – 0.825, Short term – 0.8

Economic release today –

• NIL

Commentary –

• Aussie gave up all the gains as dollar recovers on strong CPI data. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.725

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

Economic release today –

• RBNZ inflation expectations rose to 2.1 percent in the fourth quarter.

Commentary –

• Kiwi is struggling to make a comeback as it failed to clear resistance around 0.735 area. It is the best performer of the week so far.

 USD/CAD –

Trading at 1.264

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 – 1.25 (broken)

Economic release today –

• NIL

Commentary –

• Loonie is the worst performer of the week.

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