Currency snapshot (commodity pairs)

Dollar index trading at 96.08 (-0.21%)

Strength meter (today so far) - Aussie +0.73%, Kiwi +0.40%, Loonie +0.64%.

Strength meter (since last week) - Aussie -0.58%, Kiwi +0.58%, Loonie +0.76%.

AUD/USD -

Trading at 0.706

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 -

• RBA commodity index down -21.3% in September from a year ago.

Commentary -                                                                               

• Aussie is the best performer today, driven by higher commodity prices and better than expected china PMI. Sell Aussie @ 0.76 with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65.

NZD/USD -

Trading at 0.641

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. Kiwi is in consolidation mode ahead of NFP report tomorrow.

USD/CAD -

Trading at 1.323

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, immediate -1.32

Resistance -

• Long term - 1.38, Medium term - 1.35, Short term - 1.35

Economic release today -

• Manufacturing PMI came at 48.6 in September.

Commentary -                                                                                         

• Loonie recovered after GDP data yesterday and boosted further by higher oil price.