Currency snapshot (commodity pairs)

Dollar index trading at 93.23 (-0.53%)

Strength meter (today so far) – Aussie +0.43%, Kiwi +0.22%, Loonie +0.44%

Strength meter (since last week) – Aussie +0.55%, Kiwi +0.73%, Loonie +0.26%

AUD/USD –

Trading at 0.776

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 –

• National Australia bank’s business confidence index improves to 7 and business condition flat at 14

Commentary –

• Aussie is higher today on weak U.S. dollar.

NZD/USD –

Trading at 0.708

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 the best performer of the week as political tension ease. 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 (testing)

Economic release today –

• Building permits declined by 5.5 percent in August.
• September Housing starts came at 217,100

Commentary –

• Loonie is the worst performer of the week but up against the dollar.

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