Dollar index trading at 90.68 (-0.33%)
Strength meter (today so far) – Aussie +0.18%, Kiwi +0.28%, Loonie +0.04%
Strength meter (since last week) – Aussie +0.95%, Kiwi +0.62%, Loonie +0.14%
AUD/USD –
Trading at 0.798
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 –
- Unemployment rose by 0.1 percent to 5.5 percent as the participation rate ticked up by 0.2 percent to 65.7 percent. Employment rose by 34,700.
Commentary –
- Aussie is the best performer of the week on upbeat Chinese data.
NZD/USD -
Trading at 0.729
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 (broken)
Economic release today –
- Business PMI report for December will be released at 21:30 GMT.
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 –
- NIL
Commentary –
- Loonie is the worst performer of the week as NAFTA tensions continue.
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