Currency snapshot (commodity pairs)

Dollar index trading at 101.45 (-0.17%)

Strength meter (today so far) – Aussie +0.25%, Kiwi +0.19%, Loonie +0.09%

Strength meter (since last week) – Aussie +0.57%, Kiwi +0.38%, Loonie +0.16%

AUD/USD –

Trading at 0.758

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.75

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.78

Economic release today –

• NIL

Commentary –

• Aussie trying to recover from key support at 0.75 area. The weakness in the dollar providing the necessary support. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.694

Trend meter –

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

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 –

• NIL

Commentary –

• Kiwi is hovering around key 0.69 support. The New Zealand dollar might decline another 200 pips to test another key support around 0.67 area.

 USD/CAD –

Trading at 1.346

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 –

• NIL

Commentary –   

• Loonie under pressure amid oil price weakness, but still marginally positive on the dollar.