Currency snapshot (commodity pairs)

Dollar index trading at 93.99 (+0.08%)

Strength meter (today so far) – Aussie -0.17%, Kiwi -0.29%, Loonie -0.02%

Strength meter (since last week) – Aussie +0.41%, Kiwi +0.83%, Loonie +0.07%

AUD/USD –

Trading at 0.777

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

Economic release today –

• NIL

Commentary –

• Aussie is down as reports suggest RBA is open to rate cuts.

NZD/USD –

Trading at 0.709

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 gave up earlier gains as political struggle continues to form a coalition. Active call – Buy Kiwi targeting 0.825.

 USD/CAD –

Trading at 1.257

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 –

• Employment increased by 10,000 and unemployment rate declines to 6.2 percent.

Commentary –

• The loonie is the worst performer of the week as oil price continue to sour

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