Currency snapshot (commodity pairs)

Dollar index trading at 94.79 (+0.26%)

Strength meter (today so far) - Aussie +0.49%, Kiwi +0.72%, Loonie +0.24%.

Strength meter (since last week) - Aussie +1.86%, Kiwi +1.63%, Loonie +0.90%.

AUD/USD -

Trading at 0.722

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, gained over FOMC hold. 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 0.642

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. FED rate hold helped in Kiwi's bounce.

USD/CAD -

Trading at 1.314

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 -

• BOC consumer prices rose in line with expectations, 0.2% m/m and 2.1% y/y.

Commentary -                                                                                         

• Loonie gave up gains as oil retreated after yesterday's sharp rise.