Currency snapshot (commodity pairs)

Dollar index trading at 94.46 (-0.08%)

Strength meter (today so far) – Aussie +0.53%, Kiwi +0.34%, Loonie +1.06%

Strength meter (since last week) – Aussie -1.58%, Kiwi -1.35%, Loonie +0.05%

AUD/USD –

Trading at 0.755

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 –

• NIL

Commentary –                                                                               

• Aussie is up today but worst performer this week.

NZD/USD –

Trading at 0.68

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 –

• NIL

Commentary –

• Kiwi is still hovering around key resistance at 0.69. Further rise likely.

USD/CAD –

Trading at 1.3

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 –

• Building permits rose by 15.55 in February.

Commentary –                                                                                         

• Loonie recovered sharply thanks to higher oil price. Best performer this week. All targets reached except 1.17 area, which may take a while and correction higher for the pair.