Currency snapshot (commodity pairs)

Dollar index trading at 91.77 (-0.14%)

Strength meter (today so far) – Aussie +0.22%, Kiwi +0.06%, Loonie +0.31%

Strength meter (since last week) – Aussie -0.12%, Kiwi +0.43%, Loonie -0.38%

AUD/USD –

Trading at 0.803

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 –

• Westpac consumer confidence up 2.5 percent in September.

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 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 1.214

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 –

• NIL

Commentary –

• The loonie is correcting this week.

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