Currency snapshot (commodity pairs)

Dollar index trading at 99.90 (+0.07%)

Strength meter (today so far) – Aussie +0.25%, Kiwi +0.36%, Loonie -0.14%

Strength meter (since last week) – Aussie -0.42%, Kiwi +0.24%, Loonie -1.32%

AUD/USD –

Trading at 0.754

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 –

• Iron ore selloffs continue to weigh on the Aussie. Iron ore is currently trading at $70 per ton. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.701

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 –

• Only currency in the commodity packs to be up against the dollar this week.

 USD/CAD –

Trading at 1.349

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 –

• Consumer price inflation is up 0.2 percent, up 1.6 percent from a year ago. Core consumer price is up 1.3 percent from a year ago.

Commentary –   

• Loonie is the worst performer of the week on declining oil price.