Currency snapshot (commodity pairs)

Dollar index trading at 100.64 (+0.15%)

Strength meter (today so far) – Aussie -0.66%, Kiwi -0.60%, Loonie -0.43%

Strength meter (since last week) – Aussie -0.93%, Kiwi -0.04%, Loonie -1.13%

AUD/USD –

Trading at 0.756

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 –

• Trade balance for February came at 3.574 billion.
• RBA kept interest rates steady at 1.5 percent.

Commentary –                                                                               

• Aussie suffered due to lack of hawkish bias in RBA monetary policy statement. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.697

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 –

• Global dairy auction is scheduled today.

Commentary –

• Kiwi is focused on the upcoming dairy auction today.

 USD/CAD –

Trading at 1.344

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 is giving up gains on weaker oil price.