Currency snapshot (commodity pairs)

Dollar index trading at 99.33 (-0.32%)

Strength meter (today so far) – Aussie +0.58%, Kiwi +0.40%, Loonie +0.21%

Strength meter (since last week) – Aussie -0.91%, Kiwi +0.06%, Loonie -0.23%

AUD/USD –

Trading at 0.742

Trend meter –

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

Support –

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

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.755

Economic release today –

• NIL

Commentary –

• The Australian dollar recovered lost grounds as the dollar weakened across the board. It is still the worst performer of the year. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.686

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.67, Short term – 0.67

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.723

Economic release today –

• NIL

Commentary –

• Kiwi turned positive against the dollar.

 USD/CAD –

Trading at 1.368

Trend meter –

• Long term – sell, Medium term – buy, Short term – Range/buy

Support –

• Long term – 1.32, Medium term – 1.33, Short term – 1.35

Resistance –

• Long term – 1.38, Medium term – 1.38, Short term – 1.38

Economic release today –

• NIL

Commentary –   

• Loonie is on its way to recovery as the oil price recovers.