Currency snapshot (commodity pairs)

Dollar index trading at 96.25 (-0.15%)

Strength meter (today so far) – Aussie +0.37%, Kiwi +0.33%, Loonie +0.02%

Strength meter (since last week) – Aussie +0.37%, Kiwi +0.33%, Loonie +0.02%

AUD/USD –

Trading at 0.705

Trend meter –

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

Support –

• Long term – 0.67, Medium term – 0.69, Short term – 0.7

Resistance –

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

Economic release today –

• Private sector credit grew 0.3 percent in November, up 4.4 percent from a year ago. 

Commentary –

• The Australian dollar is higher today as dollar selloff continues.

NZD/USD -

Trading at 0.673

Trend meter -

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

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

Economic release today –

• NIL

Commentary –

• The New Zealand dollar remains upbeat as the economy remains robust but weakens this week on USD recovery. Active Call - Sell kiwi targeting 0.59 area.

 USD/CAD –

Trading at 1.359

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 – 1.365, Medium term – 1.35, Short term – 1.35

Economic release today –

• NIL

Commentary –

• Loonie is down today despite a weaker USD as lower oil price weigh..