Currency snapshot (commodity pairs)

Dollar index trading at 96.39 (+0.45%)

Strength meter (today so far) – Aussie -0.06%, Kiwi -0.11%, Loonie -0.09%

Strength meter (since last week) – Aussie -0.34%, Kiwi -0.52%, Loonie -0.04%

AUD/USD –

Trading at 0.709

Trend meter –

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

Support –

• Long term – 0.67, Medium term – 0.67, Short term – 0.69

Resistance –

• Long term – 0.79 Medium term – 0.75, Short term – 0.72

Economic release today –

• NIL

Commentary –

• The Australian dollar is likely to decline further as the emerging market woes and strong dollar continues to dominate. Down this week on a strong dollar.

NZD/USD the -

Trading at 0.655

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 (testing)

Resistance –

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

Economic release today –

• September trade balance report will be released at 21:45 GMT.

Commentary –

• The New Zealand dollar remains under pressure as RBNZ vows to keep rate at this level through 2019 and 2020. Down this week on a stronger USD. Active Call - Sell kiwi targeting 0.59 area.

 USD/CAD –

Trading at 1.309

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 (broken)

Resistance –

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

Economic release today –

• BoC will announce rate decision at 14:00 GMT, followed by press conference at 15:15 GMT.

Commentary –

• The focus is on BoC rate decision, where a 25 basis points hike is expected. Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.