Currency snapshot (commodity pairs)

Dollar index trading at 90.08 (+0.17%)

Strength meter (today so far) – Aussie -0.05%, Kiwi +0.38%, Loonie -0.13%

Strength meter (since last week) – Aussie +0.38%, Kiwi +0.76%, Loonie -0.40%

AUD/USD –

Trading at 0.787

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 –

• Home loans declined by 1.1 percent in January and investment lending for houses is up 1.1 percent.
• March Westpac consumer confidence report will be released at 23:30 GMT.

Commentary –

• Aussie is the up this week on a weaker dollar and as the Chinese economy remains robust, which is Australia’s primary destination for mineral exports. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.733

Trend meter 6

• 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 –

• Current account balance report for the fourth quarter will be published at 21:45 GMT.

Commentary –

• Kiwi is up on a weaker dollar, looking to gain and break key resistance area around 0.735 It is the best performer of the week so far.

 USD/CAD –

Trading at 1.286

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 –

• BoC governor Poloz is set for a speech at 14:30 GMT.

Commentary –

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

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