Currency snapshot (commodity pairs)

Dollar index trading at 98.9 (-0.17%)

Strength meter (today so far) - Aussie -0.71%, Kiwi -1.1%, Loonie -0.81%

Strength meter (since last week) - Aussie -0.44%, Kiwi -0.12%, Loonie -0.73%

AUD/USD -

Trading at 0.705

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 -

• RBA held policy rate steady at 2%.

Commentary -                                                                               

• Aussie's is flat today. Focus is on RBA policy tomorrow.

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 -

• ANZ commodity prices dropped -2.3% in January.
• Global dairy auctions scheduled for today.
• Employment report for fourth quarter will be released at 21:45 GMT.

Commentary -

• Kiwi dropped sharply today. Focus is on Global dairy auctions today.

USD/CAD -

Trading at 1.407

Trend meter -

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

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 reversing gains as oil price dropping steadily.