Currency snapshot (commodity pairs)

Dollar index trading at 97.71 (+0.33%)

Strength meter (today so far) - Aussie +1.06%, Kiwi +0.14%, Loonie +0.02%.

Strength meter (since last week) - Aussie -0.38%, Kiwi +0.27%, Loonie -1.63%.

AUD/USD -

Trading at 0.73

Trend meter -

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

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 -

• Unemployment rate dropped to 5.8%, as employment rose by 71,400.

Commentary -                                                                               

• Aussie is best performer today, as job report surprised to upside.

NZD/USD -

Trading at 0.676

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 reduced rates by 25 basis points to 2.5%.

Commentary -

• Kiwi rose, despite rate cut as RBNZ indicated no further rate cut. Buy Kiwi @0.665, targeting 0.69 and stop loss at 0.644

USD/CAD -

Trading at 1.358

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 (broken)

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar remains weak amid oil price drop.