Currency snapshot (commodity pairs)

Dollar index trading at 94.93 (-0.22%)

Strength meter (today so far) – Aussie +0.27%, Kiwi +0.12%, Loonie +0.09%

Strength meter (since last week) – Aussie +0.27%, Kiwi +0.12%, Loonie +0.09%

AUD/USD –

Trading at 0.734

Trend meter –

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

Support –

• Long term – 0.7, Medium term – 0.72, Short term – 0.72

Resistance –

• Long term – 0.825, Medium term – 0.79, Short term – 0.76

Economic release today –

• NIL

Commentary –

• The Australian dollar is continuing recovery as the political crisis averted by the election of a new Prime minister.

NZD/USD -

Trading at 0.669

Trend meter -

• Long term – Sell, Medium term – Sell, Short term – Range/Sell

Support –

• Long term – 0.62, Medium term – 0.65, Short term – 0.65

Resistance –

• Long term – 0.725, Medium term – 0.7, Short term – 0.675

Economic release today –

• NIL

Commentary –

• The New Zealand dollar is up this week on a weaker dollar. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.298

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.3

Resistance –

• Long term – 1.35, Medium term – 1.33, Short term – 1.32

Economic release today –

• NIL

Commentary –

• Loonie is focused on looming NAFTA deal with the United States. The worst performer of the week.