Dollar index trading at 97.15 (-0.32%)
Strength meter (today so far) – Aussie +0.13%, Kiwi -0.49%, Loonie +0.25%
Strength meter (since last week) – Aussie +0.28%, Kiwi +0.01%, Loonie -0.26%
AUD/USD –
Trading at 0.722
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
Economic release today –
- NIL
Commentary –
- The Australian dollar is declining sharply after a failure to break the key resistance around 0.733 area and as the USD recovered. Weaker than expected Q3 GDP is also weighing on the Aussie.
NZD/USD -
Trading at 0.691
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 – 0.695 (testing)
Economic release today –
- NIL
Commentary –
- The New Zealand dollar is the worst performer of the day. Active Call - Sell kiwi targeting 0.59 area.
USD/CAD –
Trading at 1.337
Trend meter –
- Long term – sell, Medium term – sell, Short term – Range/Buy
Support –
- Long term – 1.26, Medium term – 1.29, Short term – 1.315
Resistance –
- Long term – 1.35, Medium term – 1.33, Short term – 1.33 (broken)
Economic release today –
- NIL
Commentary –
- Loonie recovered on the back of a weaker USD but lower oil price weigh. Canada’s benchmark crude oil trading at just $27.4 per barrel. Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.