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Currency snapshot (commodity pairs)

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.
  • Market Data
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