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Currency snapshot (commodity pairs)

Dollar index trading at 90.76 (+0.34%)

Strength meter (today so far) – Aussie -0.13%, Kiwi -0.27%, Loonie -0.01%

Strength meter (since last week) – Aussie +0.76%, Kiwi +0.23%, Loonie +0.18%

AUD/USD –

Trading at 0.797

Trend meter –

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

Support –

  • Long term – 0.746, Medium term – 0.75, Short term – 0.765

Resistance –

  • Long term – 0.825, Medium term – 0.8, Short term – 0.78 (broken)

Economic release today –

  • Home loans 2.1 percent in November. Investment lending for homes up 1.5 percent.

Commentary –

  • Aussie is down today despite on stronger dollar but up for the week.

NZD/USD -

Trading at 0.726

Trend meter –

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

Support –

  • Long term – 0.66, Medium term – 0.68, Short term – 0.69

Resistance –

  • Long term – 0.76, Medium term – 0.735, Short term – 0.725 (testing)

Economic release today –

  • ANZ commodity prices down 2.2 percent in December.

Commentary –

  • Kiwi is the up on weaker dollar this week.

 USD/CAD –

Trading at 1.244

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 (testing)

Resistance –

  • Long term – 1.355, Medium term – 1.32, Short term – 1.30

Economic release today –

  • BoC will announce interest rate decision at 15:00 GMT. The press conference will be held at 16:15 GMT.

Commentary –

  • Loonie is the worst performer of the week as NAFTA tensions continue.

 

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