Currency snapshot (commodity pairs)

Dollar index trading at 93.49 (+0.42%)

Strength meter (today so far) – Aussie -0.11%, Kiwi +1.05%, Loonie -0.26%

Strength meter (since last week) – Aussie -0.11%, Kiwi +1.05%, Loonie -0.26%

AUD/USD –

Trading at 0.782

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 –

• TD securities inflation up 0.3 percent in September, up 2.5 percent from a year ago.       

Commentary –

• Aussie is only marginally lower today over a stronger dollar.

NZD/USD –

Trading at 0.72

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 –

• NZIER business confidence report for the third quarter will be released at 22:00 GMT.

Commentary –

• Kiwi is the best performer of the day as political deadlock nears an end. Active call – Buy Kiwi targeting 0.825.

 USD/CAD –

Trading at 1.249

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.27, Medium term – 1.25, Short term – 1.25

Economic release today –

• Markit manufacturing report will be released at 13:30 GMT.

Commentary –               

• The loonie is marginally down today.

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