Currency snapshot (commodity pairs)

Dollar index trading at 89.5 (-0.08%)

Strength meter (today so far) – Aussie +0.30%, Kiwi +0.04%, Loonie +0.13%

Strength meter (since last week) – Aussie +0.90%, Kiwi +0.69%, Loonie -0.49%

AUD/USD –

Trading at 0.781

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 GDP grew by 0.4 percent, up 2.4 percent from a year ago.

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 0.728

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 –

• NIL

Commentary –

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

 USD/CAD –

Trading at 1.293

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 – 1.3, Short term – 1.3

Economic release today –

• January trade balance report will be released at 13:30 GMT.
• BoC to announce rate decision at 15:00 GMT.

Commentary –

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

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