Currency snapshot (commodity pairs)

Dollar index trading at 95.56 (+0.30%)

Strength meter (today so far) - Aussie -0.64%, Kiwi -0.29%, Loonie +0.02%.

Strength meter (since last week) - Aussie +0.37%, Kiwi +0.13%, Loonie +0.08%.

AUD/USD -

Trading at 0.712

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range/buy

Support -

• Long term - 0.60, Medium term - 0.65, Short term - 0.685, immediate - 0.695

Resistance -

• Long term - 0.83, Medium term - 0.725, Short term - 0.725

Economic release today -

• NIL

Commentary -                                                                               

• Aussie is best performer this week, however rally got halted by pessimistic RBA minutes.. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65. In spite of medium term sell call, Aussie might give much larger correction towards 0.735.

NZD/USD -

Trading at 0.632

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.60, Short term - 0.615

Resistance -

• Long term - 0.71, Medium term - 0.68, Short term - 0.643-0.65

Economic release today -

• NIL

Commentary -

• Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. Kiwi is almost flat, focus on FOMC this week and global dairy auctions today.

USD/CAD -

Trading at 1.325

Trend meter -

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

Support -

• Long term - 1.19, Medium term - 1.26, Short term - 1.29

Resistance -

• Long term - 1.38, Medium term - 1.35, Short term - 1.34

Economic release today -

• NIL

Commentary -                                                                                         

• Higher crude price is providing support to Loonie today.