Currency snapshot (commodity pairs)

Dollar index trading at 101.6 (+0.53%)

Strength meter (today so far) – Aussie +0.23%, Kiwi -0.21%, Loonie -0.19%

Strength meter (since last week) – Aussie +0.51%, Kiwi +0.58%, Loonie +0.64%

AUD/USD –

Trading at 0.747

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Buy

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.765

Economic release today –

• Home loans declined by 0.8 percent in October.
• Investment lending for homes grew by 0.7 percent.

Commentary –

• The Australian dollar is still struggling below key 0.75 area.  Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82

NZD/USD –

Trading at 0.716

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• NIL

Commentary –

• The kiwi is treading water below 0.72 area. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.317

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.3 , Short term – 1.32

Resistance –

• Long term – 1.38, Medium term – 1.365, Short term – 1.365

Economic release today –

• NIL

Commentary –   

• The Canadian dollar gained further on stronger dollar. We expect the loonie to reach 1.375 and 1.4.