Currency snapshot (commodity pairs)

Dollar index trading at 97.40 (+0.09%)

Strength meter (today so far) – Aussie +0.13%, Kiwi -0.02%, Loonie -0.15%

Strength meter (since last week) – Aussie +0.11%, Kiwi +0.27%, Loonie -0.66%

AUD/USD –

Trading at 0.724

Trend meter –

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

Support –

• Long term – 0.67, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.79 Medium term – 0.75, Short term – 0.732

Economic release today –

• NIL

Commentary –

• The Australian dollar is likely to keep struggling amid a stronger economy and a stronger USD.

NZD/USD -

Trading at 0.679

Trend meter -

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

Support –

• Long term – 0.62, Medium term – 0.65, Short term – 0.66

Resistance –

• Long term – 0.735, Medium term – 0.72, Short term – 0.69

Economic release today –

• RBNZ will release financial stability report at 20:00 GMT, followed by a press conference by Governor Orr at 22:00 GMT.

Commentary –

• The New Zealand dollar is the best performer of the week as stronger economy weighs over stronger USD. Active Call - Sell kiwi targeting 0.59 area.

 USD/CAD –

Trading at 1.332

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.315

Resistance –

• Long term – 1.35, Medium term – 1.33, Short term – 1.33 (testing)

Economic release today –

• NIL

Commentary –

• Loonie is the worst performer of the week and as the weaker price of Canadian heavy oil weighs. Canada’s benchmark crude oil trading at just $11.2 per barrel.   Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.