Currency snapshot (commodity pairs)

Dollar index trading at 100.32 (+0.48%)

Strength meter (today so far) - Aussie +0.01%, Kiwi -0.25%, Loonie -0.23%.

Strength meter (since last week) - Aussie +1.60%, Kiwi +1.52%, Loonie -0.07%.

AUD/USD -

Trading at 0.73

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 - 0.738

Economic release today -

• HIA new home sales dropped -3% in October.
• Trade balance came at -3.3 billion as exports dropped by -3%.

Commentary -                                                                               

• Aussie traded higher over weaker Dollar but gave up gains fast. Likely to target 0.74 area in the shorter term.

NZD/USD -

Trading at 0.662

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 (broken)

Economic release today -

• NIL

Commentary -

• Kiwi is down due to short covering in EUR/NZD.

USD/CAD -

Trading at 1.338

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 -                                                                                         

• Canadian Dollar is worst performer of the week, as oil price weighs in.