Currency snapshot (commodity pairs)

Dollar index trading at 94.68 (+0.12%)

Strength meter (today so far) – Aussie +0.32%, Kiwi +0.20%, Loonie +0.21%

Strength meter (since last week) – Aussie +0.34%, Kiwi +0.41%, Loonie -0.41%

AUD/USD –

Trading at 0.77

Trend meter –

• Long term – Range/Buy, Medium term – Buy, Short term – Range/Sell

Support –

• Long term – 0.746, Medium term – 0.765, Short term – 0.77 (testing)

Resistance –

• Long term – 0.825, Medium term – 0.825, Short term – 0.8

Economic release today –

• Building permits grew 1.5 percent in September, down 2.4 percent from a year ago.
• September trade balance came at $1.745 billion.
• AiG services index will be updated at 22:30 GMT.

Commentary –

• Aussie is recovered from an earlier loss but under pressure over election tensions.

NZD/USD –

Trading at 0.69

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.68, Short term – 0.68

Resistance –

• Long term – 0.76, Medium term – 0.76, Short term – 0.725

Economic release today –

• NIL

Commentary –

• Kiwi is up on better than expected unemployment report.

 USD/CAD –

Trading at 1.284

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.246

Resistance –

• Long term – 1.355, Medium term – 1.32, Short term – 1.3

Economic release today –

• NIL

Commentary –              

• Loonie is the worst performer of the week on NAFTA tension and dovish BoC.

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