Currency snapshot (commodity pairs)

Dollar index trading at 96.57 (+0.42%)

Strength meter (today so far) – Aussie -0.77%, Kiwi -0.44%, Loonie -0.43%

Strength meter (since last week) – Aussie -1.19%, Kiwi -0.86%, Loonie -0.93%

AUD/USD –

Trading at 0.723

Trend meter –

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

Support –

• Long term – 0.67, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.79 Medium term – 0.75, Short term – 0.732 (testing)

Economic release today –

• NIL

Commentary –

• The Australian dollar is giving up gains this week after big rise over the last two weeks.

NZD/USD -

Trading at 0.681

Trend meter -

• Long term – Sell, Medium term – Sell, Short term – Range/Buy

Support –

• Long term – 0.62, Medium term – 0.65, Short term – 0.66

Resistance –

• Long term – 0.735, Medium term – 0.72, Short term – 0.69

Economic release today –

• Global dairy price index declined by 3.5 percent at today’s auction.

Commentary –

• The New Zealand dollar giving up gains this week after big rise over the last two weeks. Active Call - Sell kiwi targeting 0.59 area.

 USD/CAD –

Trading at 1.326

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range/Buy

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.29

Resistance –

• Long term – 1.35, Medium term – 1.33, Short term – 1.32 (broken)

Economic release today –

• NIL

Commentary –

• Loonie remains downbeat as lower oil price weigh. But best performer of the day among commodity pairs.  Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.