Currency snapshot (commodity pairs)

Dollar index trading at 99.37 (+0.03%)

Strength meter (today so far) - Aussie -1.31%, Kiwi -0.97%, Loonie -0.70%

Strength meter (since last week) - Aussie -3.01%, Kiwi -2.90%, Loonie -1.82%

AUD/USD -

Trading at 0.707

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 remains weaker over turmoil in China and major selloff in Yuan.

NZD/USD -

Trading at 0.664

Trend meter -

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

Support -

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

Resistance -

• Long term - 0.7, Medium term - 0.69, Short term - 0.69

Economic release today -

• NIL

Commentary -

• Kiwi is down sharply after dairy auction price dropped.

USD/CAD -

Trading at 1.408

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 -

• Trade balance for November came at -$2 billion.

Commentary -                                                                                         

• Canadian Dollar lost further ground as oil price dipped sharply.