Currency snapshot (commodity pairs)

Dollar index trading at 97.34 (-0.13%)

Strength meter (today so far) – Aussie +0.33%, Kiwi +0.49%, Loonie +0.22%

Strength meter (since last week) – Aussie +1.10%, Kiwi +0.44%, Loonie +1.78%

AUD/USD –

Trading at 0.761

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 (broken)

Economic release today –

• NIL

Commentary –

• Aussie rose sharply as the economy improves. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.724

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.67, Short term – 0.69

Resistance –

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

Economic release today –

• NIL

Commentary –

• Kiwi is testing the key resistance around 0.723 area.

 USD/CAD –

Trading at 1.323

Trend meter –

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

Support –

• Long term – 1.32, Medium term – 1.32, Short term – 1.32 (testing)

Resistance –

• Long term – 1.38, Medium term – 1.37, Short term – 1.35

Economic release today –

• NIL

Commentary –   

• Loonie is still the best performer of the week on rate hike speculations from BoC.