Currency snapshot (commodity pairs)

Dollar index trading at 98.83 (-0.22%)

Strength meter (today so far) - Aussie +0.92%, Kiwi +0.72%, Loonie +0.58%.

Strength meter (since last week) - Aussie +0.15%, Kiwi +0.61%, Loonie -0.84%.

AUD/USD -

Trading at 0.72

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 -

• NIL

Commentary -                                                                               

• Aussie is sharply up today but likely to be under selling pressure as commodities remain down and dollar strong.

NZD/USD -

Trading at 0.675

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 -

• ANZ business climate rose to 23 from 14.8 prior.

Commentary -

• Kiwi is best performer among commodity pack this week. Buy Kiwi @0.665, targeting 0.69 and stop loss at 0.644

USD/CAD -

Trading at 1.387

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.327, Short term - 1.352,

Resistance -

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

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar traded as low as 1.4 per Dollar, but recovered along oil price.