Currency snapshot (commodity pairs)

Dollar index trading at 91.48 (+0.01%)

Strength meter (today so far) – Aussie +0.07%, Kiwi +0.37%, Loonie -0.12%

Strength meter (since last week) – Aussie +0.07%, Kiwi +0.37%, Loonie -0.12%

AUD/USD –

Trading at 0.805

Trend meter –

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

Support –

• Long term – 0.746, Medium term – 0.765, Short term – 0.77

Resistance –

• Long term – 0.825, Medium term – 0.825, Short term – 0.8 (testing)

Economic release today –

• NIL

Commentary –

• Aussie is enjoying a major breakout, likely to rise towards 0.82 against the dollar.

NZD/USD –

Trading at 0.728

Trend meter –

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

Support –

• Long term – 0.69, Medium term – 0.71, Short term – 0.71

Resistance –

• Long term – 0.76, Medium term – 0.76, Short term – 0.75

Economic release today –

• NIL

Commentary –

• Kiwi is up this week on the weaker dollar but lost grounds over past few weeks over RBNZ’s verbal stance against the kiwi. Active call – Buy Kiwi targeting 0.825.

 USD/CAD –

Trading at 1.211

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.2, Short term – 1.2

Resistance –

• Long term – 1.27, Medium term – 1.235, Short term – 1.235

Economic release today –

• Housing starts numbers will be released at 12:15 GMT.

Commentary –

• The loonie is the up this week as BoC surprised markets with a rate hike.

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