Currency snapshot (commodity pairs)

Dollar index trading at 100.30 (-0.47%)

Strength meter (today so far) – Aussie +0.11%, Kiwi +0.35%, Loonie +0.17%

Strength meter (since last week) – Aussie +0.11%, Kiwi +0.35%, Loonie +0.17%

AUD/USD –

Trading at 0.756

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 –

• NIL

Commentary –

• The Aussie is hovering above key support area of 0.75, looking for fuels to move higher.

NZD/USD –

Trading at 0.719

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 –

• After previous failure at the resistance area around 0.72, Kiwi is back testing the levels again.

 USD/CAD –

Trading at 1.328

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• Wholesale sales report for November will be released at 13:30 GMT.

Commentary –   

• Loonie is only marginally higher, likely to take cues from oil price and the strength of the dollar. We expect the loonie to reach 1.375 and 1.4.