Currency snapshot (commodity pairs)

Dollar index trading at 95.19 (+0.05%)

Strength meter (today so far) – Aussie +0.07%, Kiwi -0.12%, Loonie +0.70%

Strength meter (since last week) – Aussie +0.07%, Kiwi -0.12%, Loonie +0.70%

AUD/USD –

Trading at 0.722

Trend meter –

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

Support –

• Long term – 0.67, Medium term – 0.7, Short term – 0.72 (testing)

Resistance –

• Long term – 0.825, Medium term – 0.79, Short term – 0.75

Economic release today –

• NIL

Commentary –

• The Australian dollar is marginally higher to start this week, however, bulls are likely to continue struggling.

NZD/USD -

Trading at 0.661

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 –

• NZIER business confidence report will be published at 21:00 GMT.

Commentary –

• The New Zealand dollar is declining as RBNZ vows to keep rate at this level through 2019 and 2020. Active Call - Sell kiwi targeting 0.59 area.

 USD/CAD –

Trading at 1.281

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• NIL.

Commentary –

• Loonie is the best performer of the week as Canada reaches trade agreement with the United States. Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.