Currency snapshot (commodity pairs)

Dollar index trading at 96.90 (+0.06%).

Strength meter (today so far) - Aussie +0.38%, Kiwi +0.29%, Loonie +0.79%.

Strength meter (since last week) - Aussie +0.38%, Kiwi +0.29%, Loonie +0.79%.

AUD/USD -

Trading at 0.785

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 -

• Speculators reduced short bets by 563 million to -2.67 billion.

Commentary -

• Aussie is showing strength today, along with rest of the commodity pairs. Bulls are looking to test short term resistance level.

NZD/USD -

Trading at 0.763

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 -

• Speculators increased long bets by 200 million to 651 million.

Commentary -

• Kiwi's is gaining ground after last week's hammering by dovish comments from RBNZ member. Focus is on monetary policy decisions on Wednesday.

USD/CAD -

Trading at 1.21

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 -

• Speculators covered short position by 246 million. Net position now at -2.2billion

Commentary -

• Loonie is the best performer today, however it is trading in close proximity to support and initial target, some bounce back might be seen from level.