Currency snapshot (commodity pairs)

Dollar index trading at 97 (-0.20%)

Strength meter (today so far) – Aussie +0.41%, Kiwi +0.10%, Loonie +0.46%

Strength meter (since last week) – Aussie +0.28%, Kiwi +0.80%, Loonie -0.52%

AUD/USD –

Trading at 0.722

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 –

• Home price index down 0.9 percent y/y in Q3.

Commentary –

• The Australian dollar is declining sharply after a failure to break the key resistance around 0.733 area and as the USD recovered. Weaker than expected Q3 GDP is also weighing on the Aussie. However, weaker USD is providing some support.

NZD/USD -

Trading at 0.691

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 – 0.695 (testing)

Economic release today –

• NIL

Commentary –

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

 USD/CAD –

Trading at 1.337

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 (broken)

Economic release today –

• NIL

Commentary –

• Loonie recovered on the back of a weaker USD but lower oil price weigh. Canada’s benchmark crude oil trading at just $26.6 per barrel.   Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.