Currency snapshot (commodity pairs)

Dollar index trading at 94.69 (+0.13%)

Strength meter (today so far) – Aussie -0.71%, Kiwi -0.42%, Loonie -0.91%

Strength meter (since last week) – Aussie -1.75%, Kiwi -1.76%, Loonie -1.43%

AUD/USD –

Trading at 0.754

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.728, Short term – 0.742

Resistance –

• Long term – 0.82, Medium term – 0.79, Short term – 0.79

Economic release today –

• RBA kept rates on hold at 2%.
• Trade balance for February came at $3.41 billion.

Commentary –                                                                               

• Aussie is down again today as relatively stronger Dollar and weaker commodities price weigh.

NZD/USD –

Trading at 0.677

Trend meter –

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

Support –

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

Resistance –

• Long term – 0.77, Medium term – 0.724, Short term – 0.69

Economic release today –

• Dairy auction scheduled today.

Commentary –

• Kiwi is down today, focus is on dairy auctions later on.

USD/CAD –

Trading at 1.319

Trend meter –

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

Support –

• Long term – 1.285, Medium term – 1.285 , Short term – 1.285

Resistance –

• Long term – 1.38, Medium term – 1.35, Short term – 1.33

Economic release today –

• NIL

Commentary –                                                                                         

• Loonie is worst performer today as oil drops. All targets reached except 1.17 area, which may take a while and correction higher for the pair.