Currency snapshot (commodity pairs)

Dollar index trading at 100.59 (+0.15%)

Strength meter (today so far) – Aussie +0.14%, Kiwi +0.07%, Loonie +0.30%

Strength meter (since last week) – Aussie -0.73%, Kiwi -+0.07%, Loonie -0.99%

AUD/USD –

Trading at 0.763

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 –

• NIL

Commentary –

• The Aussie remain downbeat this week as the dollar turned positive.

NZD/USD –

Trading at 0.73

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 will announce interest rate decision at 20:00 GMT, followed by press conference at 21:00 GMT.

Commentary –

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

 USD/CAD –

Trading at 1.315

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 –

• Housing starts number for January will be released at 13:15 GMT.

Commentary –   

• Loonie is the worst performer due to stronger dollar and weaker oil price.