Currency snapshot (commodity pairs)

Dollar index trading at 89.60 (+0.02%)

Strength meter (today so far) – Aussie -0.33%, Kiwi -0.41%, Loonie -0.10%

Strength meter (since last week) – Aussie +0.81%, Kiwi +0.36%, Loonie -0.34%

AUD/USD –

Trading at 0.781

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 –

• January trade balance came at $1.055 billion.

Commentary –

• Aussie is the best performer of the week as the dollar declines over trade war fear. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.728

Trend meter 6

• 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

Economic release today –

• Electronic card retail sales report will be released at 21:45 GMT.

Commentary –

• Kiwi is up on a weaker dollar, looking to gain and break key resistance area around 0.735

 USD/CAD –

Trading at 1.292

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.22, Short term – 1.24

Resistance –

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

Economic release today –

• Housing starts report will be published at 13:15 GMT, followed by building permits report and house price report at 13:30 GMT.

Commentary –

• Loonie is the worst performer of the week so far.

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