Currency snapshot (commodity pairs)

Dollar index trading at 100.65 (+0.76%)

Strength meter (today so far) – Aussie -0.37%, Kiwi -0.33%, Loonie -0.89%

Strength meter (since last week) – Aussie -0.91%, Kiwi -0.04%, Loonie -1.36%

AUD/USD –

Trading at 0.762

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 – 0.78, Short term – 0.78

Economic release today –

• RBA kept interest rates on hold at 1.5 percent.

Commentary –

• The Australian dollar is in decline after March hike from Fed hope pushes the dollar higher.

NZD/USD –

Trading at 0.729

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 – 0.733

Economic release today –

• RBNZ inflation expectations rose to 1.9 percent in the fourth quarter.
• Global dairy auction is scheduled today.

Commentary –

• The kiwi is the best performer this week so far, the focus is on RBNZ rate decision tomorrow.

 USD/CAD –

Trading at 1.32

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 –

• December Trade balance report will be published at 13:30 GMT.

Commentary –   

• Loonie is the worst performer as the dollar rises and oil declines.