Currency snapshot (commodity pairs)

Dollar index trading at 96.68 (-0.13%)

Strength meter (today so far) - Aussie +0.82%, Kiwi +0.45%, Loonie +0.08%.

Strength meter (since last week) - Aussie +0.26%, Kiwi -0.01%, Loonie -0.68%.

AUD/USD -

Trading at 0.745

Trend meter -

• Long term - Sell, Medium term - Range, Short term - Range/Sell

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.71-0.715

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.793-0.796

Economic release today -

• Business condition rose to 11 from 8 whereas confidence grew to 10 from 6

Commentary -                                                                               

• Aussie is the best performer today, as optimism rose in Australia. Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.

NZD/USD -

Trading at 0.671

Trend meter -

• Long term - Sell, Medium term - Range, Short term - Range/sell resistance

Support -

• Long term - 0.653, Medium term - 0.65, Short term - 0.65

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.705

Economic release today -

• NIL

Commentary -

• Kiwi is consolidating above 0.65 crucial support.

USD/CAD -

Trading at 1.273

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Buy

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.217-1.213

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28.

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian dollar remains sell against dollar, the pair might reach as high as 1.38. Iran deal is weighing on loonie, however it got some support on the news that sanction are not immediately removed.