Currency snapshot (commodity pairs)

Dollar index trading at 97.22 (+0.12%)

Strength meter (today so far) – Aussie -0.41%, Kiwi -0.19%, Loonie -0.19%

Strength meter (since last week) – Aussie +0.15%, Kiwi +1.59%, Loonie +0.52%

AUD/USD –

Trading at 0.746

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 –

• Aussie is the worst performer of the day but still positive against the dollar. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.703

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 –

• A weaker dollar and higher commodity prices pushing the kiwi higher; the best performer of the week so far.

 USD/CAD –

Trading at 1.344

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 remains upbeat but cautious ahead of OPEC meeting outcome today. Higher oil price is supporting loonie.