Currency snapshot (commodity pairs)

Dollar index trading at 99.93 (-0.25%)

Strength meter (today so far) - Aussie +1.1%, Kiwi 1.21%, Loonie -0.15%.

Strength meter (since last week) - Aussie +1.73%, Kiwi +2.28%, Loonie -0.03%.

AUD/USD -

Trading at 0.731

Trend meter -

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

Support -

• Long term - 0.63, Medium term - 0.69, Short term - 0.707

Resistance -

• Long term - 0.76, Medium term - 0.738, Short term - 0.727

Economic release today -

• RBA kept policy on hold.
• Building permits up 3.9% m/m in October.

Commentary -                                                                               

• Aussie is sharply up as RBA kept rates on hold. Likely to target 0.74 area in the shorter term.

NZD/USD -

Trading at 0.667

Trend meter -

• Long term - Sell, Medium term - Range/sell, Short term - Range/Sell

Support -

• Long term - 0.56, Medium term - 0.618, Short term - 0.643

Resistance -

• Long term - 0.7, Medium term - 0.68, Short term - 0.663 (broken)

Economic release today -

• Prices rose 3.6% in global dairy auctions.

Commentary -

• Kiwi finally broken above 0.66 resistance as economic outlook improved. Kiwi remains the best performer of the week.

USD/CAD -

Trading at 1.337

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support -

• Long term - 1.285, Medium term - 1.302, Short term - 1.322,

Resistance -

• Long term - 1.4, Medium term - 1.36, Short term - 1.343

Economic release today -

• Third quarter GDP rose 2.3%.

Commentary -                                                                                         

• Canadian Dollar is worst performer of the week.