Currency snapshot (commodity pairs)

Dollar index trading at 98.71 (-0.31%)

Strength meter (today so far) - Aussie +0.77%, Kiwi +0.16%, Loonie +0.33%

Strength meter (since last week) - Aussie +0.91%, Kiwi +0.54%, Loonie +0.33%

AUD/USD -

Trading at 0.706

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range/Sell

Support -

• Long term - 0.68, Medium term - 0.69, Short term - 0.7

Resistance -

• Long term - 0.74, Medium term - 0.738, Short term - 0.738

Economic release today -

• RBA trimmed mean inflation rose 0.6% in fourth quarter, up 2.1% from a year ago.

Commentary -                                                                               

• Aussie's is best performer today and this week.

NZD/USD -

Trading at 0.652

Trend meter -

• Long term - Sell, Medium term - Range, Short term - Range/Sell

Support -

• Long term - 0.56, Medium term - 0.62, Short term - 0.643

Resistance -

• Long term - 0.7, Medium term - 0.69, Short term - 0.69

Economic release today -

• RBNZ monetary policy to be announced at 20:00 GMT.

Commentary -

• Kiwi is consolidating as risk aversion subsides.

USD/CAD -

Trading at 1.406

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/buy

Support -

• Long term - 1.285, Medium term - 1.385, Short term - 1.395,

Resistance -

• Long term - 1.5, Medium term - 1.45, Short term - 1.42

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar recovering sharply with rise in oil price.