Currency snapshot (commodity pairs)

Dollar index trading at 97.96 (-0.47%)

Strength meter (today so far) - Aussie +0.10%, Kiwi +0.14%, Loonie +0.10%.

Strength meter (since last week) - Aussie -1.41%, Kiwi -1.39%, Loonie -1.52%.

AUD/USD -

Trading at 0.722

Trend meter -

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

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 -

• Home loans dropped by -0.5%, investment lending for homes down by -6.1% in October.

Commentary -                                                                               

• Aussie is up but weakness in China is weighing.

NZD/USD -

Trading at 0.665

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• RBNZ to announce interest rate decision at 20:00 GMT.

Commentary -

• Kiwi might rise if RBNZ sounds less dovish. Buy Kiwi @0.665, targeting 0.69 and stop loss at 0.644

USD/CAD -

Trading at 1.356

Trend meter -

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

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 dropped to 11 year low as oil price dropped to lowest level since February 2009. Recovered some ground today though.