Currency snapshot (commodity pairs)

Dollar index trading at 99.54 (-0.20%)

Strength meter (today so far) - Aussie +0.81%, Kiwi +0.51%, Loonie +0.51%.

Strength meter (since last week) - Aussie +0.14%, Kiwi -0.20%, Loonie +0.36%.

AUD/USD -

Trading at 0.724

Trend meter -

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

Support -

• Long term - 0.63, Medium term - 0.69, Short term - 0.707

Resistance -

• Long term - 0.76, Medium term - 0.738, Short term - 0.727

Economic release today -

• NIL

Commentary -                                                                               

• Aussie recovered yesterday's big loss and moved into green for the week. Likely to target 0.74 area in the shorter term.

NZD/USD -

Trading at 0.654

Trend meter -

• Long term - Sell, Medium term - Range/sell, Short term - Range/Sell

Support -

• Long term - 0.56, Medium term - 0.618, Short term - 0.643

Resistance -

• Long term - 0.7, Medium term - 0.68, Short term - 0.663

Economic release today -

• NIL

Commentary -

• Kiwi is likely to drop further if it fails to clear resistance around 0.66, remains worst performer of the week.

USD/CAD -

Trading at 1.329

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support -

• Long term - 1.285, Medium term - 1.302, Short term - 1.322,

Resistance -

• Long term - 1.4, Medium term - 1.36, Short term - 1.343

Economic release today -

• NIL

Commentary -                                                                                         

• Thanks to rising oil price, Loonie is the best performer of the week.