Currency snapshot (commodity pairs)

Dollar index trading at 94.93 (+0.33%)

Strength meter (today so far) – Aussie -0.23%, Kiwi -0.52%, Loonie +0.37%

Strength meter (since last week) – Aussie +0.25%, Kiwi -0.62%, Loonie +1.10%

AUD/USD –

Trading at 0.772

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 down today as metals retreat and Dollar is relatively stronger.

NZD/USD –

Trading at 0.687

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 – 0.724

Economic release today –

• NIL

Commentary –

• Kiwi worst performer today and this week.

USD/CAD –

Trading at 1.267

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.22 , Short term – 1.25

Resistance –

• Long term – 1.334, Medium term – 1.32, Short term – 1.3

Economic release today –

• Retail sales rose 0.4% in February.
• Consumer price index rose 1.3% y/y.
• BOC core consumer prices up 2.1% from a year back.

Commentary –                                                                                         

• Loonie is best performing commodity pair riding on higher oil price. All targets reached except 1.17 area, which may take a while and correction higher for the pair.