Currency snapshot (commodity pairs)

Dollar index trading at 94.07 (-0.12%)

Strength meter (today so far) – Aussie +0.46%, Kiwi +0.80%, Loonie +0.15%

Strength meter (since last week) – Aussie +0.46%, Kiwi +0.80%, Loonie +0.15%

AUD/USD –

Trading at 0.759

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 –

• Home loans rose by 1.5% in February, whereas investment lending for homes rose by 4.1%

Commentary –                                                                               

• Aussie is up on weaker Dollar today.

NZD/USD –

Trading at 0.685

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 best performer today.

USD/CAD –

Trading at 1.295

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 –                                                                                         

• Focus for Loonie is on oil and BOC rate decision later in the week. All targets reached except 1.17 area, which may take a while and correction higher for the pair.