Currency snapshot (commodity pairs)

Dollar index trading at 90.07 (+0.00%)

Strength meter (today so far) – Aussie -0.19%, Kiwi -0.16%, Loonie +0.05%

Strength meter (since last week) – Aussie -0.26%, Kiwi -0.48%, Loonie -0.13%   

AUD/USD –

Trading at 0.768

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 –

• Private sector credit grew 0.4 percent in February, up 4.9 percent from a year ago.

Commentary –

• Aussie is down today and for the week as the dollar recovers. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.72

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 –

• NIL

Commentary –

• Kiwi turned from best performer of the week to worst performer.

 USD/CAD –

Trading at 1.291

Trend meter –

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

Support –

• Long term – 1.22, Medium term – 1.24, Short term – 1.27

Resistance –

• Long term – 1.32, Medium term – 1.3, Short term – 1.3

Economic release today –

• RAW material price index declined 0.3 percent in February.
• Industrial product price index rose 0.1 percent in February.
• GDP declined by 0.1 percent in January.

Commentary –

• Loonie is down this week despite higher oil price and a weaker dollar.

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