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Currency snapshot (commodity pairs)

Dollar index trading at 89.63 (+0.49%)

Strength meter (today so far) – Aussie -0.21%, Kiwi -0.15%, Loonie -0.29%

Strength meter (since last week) – Aussie +0.00%, Kiwi -0.31%, Loonie -0.48%

AUD/USD –

Trading at 0.789

Trend meter –

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

Support –

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

Resistance –

  • Long term – 0.85, Medium term – 0.825, Short term – 0.8

Economic release today –

  • NIL

Commentary –

  • Aussie gave up earlier gain and now, flat for the week as the dollar recovers. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.735

Trend meter –

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

Support –

  • Long term – 0.68, Medium term – 0.69, Short term – 0.71

Resistance –

  • Long term – 0.76, Medium term – 0.735, Short term – 0.735 (broken)

Economic release today –

  • Global dairy auction is scheduled today.

Commentary –

  • Kiwi is marginally down for the week.

 USD/CAD –

Trading at 1.26

Trend meter –

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

Support –

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

Resistance –

  • Long term – 1.3, Medium term – 1.28, Short term – 1.25 (testing)

Economic release today –

  • Wholesale sales declined 0.5 percent in December.

Commentary –

  • Loonie is the worst performer of the week.

 

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