Currency snapshot (commodity pairs)

Dollar index trading at 97.60 (-0.15%)

Strength meter (today so far) – Aussie -0.08%, Kiwi +0.02%, Loonie -0.13%

Strength meter (since last week) – Aussie -0.55%, Kiwi -0.03%, Loonie -0.60%

AUD/USD –

Trading at 0.757

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 –

• Aussie is down this week on weaker commodities’ price. 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 – 0.67, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.723 (broken)

Economic release today –

• RBNZ will announce interest rate decision at 21:00 GMT.

Commentary –

• Kiwi is still the best performer of the week, but down against the dollar. The focus is on RBNZ policy later today.

 USD/CAD –

Trading at 1.329

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 the worst performer of the week on declining oil price.

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