Currency snapshot (commodity pairs)

Dollar index trading at 98.58 (-0.36%)

Strength meter (today so far) - Aussie +1.20%, Kiwi +0.78%, Loonie +0.22%

Strength meter (since last week) - Aussie +1.40%, Kiwi -0.23%, Loonie +0.28%

AUD/USD -

Trading at 0.709

Trend meter -

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

Support -

• Long term - 0.68, Medium term - 0.69, Short term - 0.7

Resistance -

• Long term - 0.74, Medium term - 0.738, Short term - 0.738

Economic release today -

• Export price index dropped -5.4% for fourth quarter, while import price index dropped -0.3%, deteriorating terms of trade.

Commentary -                                                                               

• Aussie's is best performer today and this week.

NZD/USD -

Trading at 0.647

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.62, Short term - 0.643

Resistance -

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

Economic release today -

• NIL

Commentary -

• Kiwi is worst performer this week as dovish RBNZ taking its toll.

USD/CAD -

Trading at 1.407

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.385, Short term - 1.395,

Resistance -

• Long term - 1.5, Medium term - 1.45, Short term - 1.42

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar recovering with rise in oil price but remains worst performer today.