Currency snapshot (commodity pairs)

Dollar index trading at 100.55 (+0.00%)

Strength meter (today so far) – Aussie -0.22%, Kiwi -0.45%, Loonie -0.12%

Strength meter (since last week) – Aussie +1.98%, Kiwi +1.07%, Loonie +1.16%

AUD/USD –

Trading at 0.769

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 was trying to recover from key support at 0.75 area and it found support in the weakness of the dollar. Aussie is the best performer of the week so far. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.699

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, after finding support around key 0.69 area, rose sharply on the weakness of the dollar. However, selling pressure likely to remain over kiwi.

 USD/CAD –

Trading at 1.331

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 –   

• Despite weakness in the oil price, Loonie is up more than 1 percent on a weaker dollar.