Currency snapshot (commodity pairs)

Dollar index trading at 96.64 (+0.24%)

Strength meter (today so far) – Aussie -0.10%, Kiwi +0.29%, Loonie -0.21%

Strength meter (since last week) – Aussie -0.10%, Kiwi +0.29%, Loonie -0.21%

AUD/USD –

Trading at 0.708

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 the strong dollar continues to dominate. Down this week on a strong dollar.

NZD/USD -

Trading at 0.653

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 –

• NIL

Commentary –

• The New Zealand dollar remains under pressure as RBNZ vows to keep the rate at this level through 2019 and 2020. The best performer of the day. Active Call - Sell kiwi targeting 0.59 area.

 USD/CAD –

Trading at 1.312

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 –

• Broad-based strength in the dollar is pushing loonie lower against the USD, despite a rate hike from the Bank of Canada. Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.