Currency snapshot (commodity pairs)

Dollar index trading at 97.15 (-0.16%).

Strength meter (today so far) - Aussie +0.12%, Kiwi -0.25%, Loonie +0.18%.

Strength meter (since last week) - Aussie -0.08%, Kiwi -1.73%, Loonie +1.01%.

AUD/USD -

Trading at 0.778

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.79-0.80

Economic release today -

• NIL

Commentary -

• Aussie is trading flat so far this week, hit by dovish outlook of RBA, weak data from China and Strong inflation print.

NZD/USD -

Trading at 0.756

Trend meter -

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

Support -

• Long term - 0.653, Medium term - 0.719-0.712, Short term - 0.738-0.736, Immediate - 0.744-0.741

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772

Economic release today -

• NIL

Commentary -

• Kiwi's has been hammered by dovish comments from RBNZ deputy governor. Kiwi is expected to keep drifting till next week's RBNZ rate decision on Wednesday. Kiwi based pairs, AUD/NZD, EUR/NZD, CAD/NZD remains attractive for trade.

USD/CAD -

Trading at 1.212

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.205-1.20

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.267-1.27. Immediate - 1.235-1.241

Economic release today -

• BOC governor Poloz will be giving speech at 14:30 GMT.

Commentary -

• Loonie is the best performer this week. Higher oil price is providing boost to Loonie.