Currency snapshot (commodity pairs)

Dollar index trading at 89.54 (-0.51%)

Strength meter (today so far) – Aussie +0.84%, Kiwi +1.07%, Loonie +0.70%

Strength meter (since last week) – Aussie +1.18%, Kiwi +0.95%, Loonie -0.15%

AUD/USD –

Trading at 0.782

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 –

• Fourth quarter current account deficit came at $14 billion.
• RBA kept interest rates unchanged at 150 bps.
• Retail sales rose by 0.1 percent in January.

Commentary –

• Aussie is the best performer of the week as the dollar declines over trade war fear. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.73

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 –

• Global dairy auction is scheduled today.

Commentary –

• Kiwi is up on a weaker dollar, looking to gain and break key resistance area around 0.735

 USD/CAD –

Trading at 1.29

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.24

Resistance –

• Long term – 1.32, Medium term – 1.28, Short term – 1.28

Economic release today –

• IVEY PMI reports will be released at 15:00 GMT.

Commentary –

• Loonie is the worst performer of the week so far.

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