Currency snapshot (commodity pairs)

Dollar index trading at 97.6 (-1.3%)

Strength meter (today so far) - Aussie +1.3%, Kiwi +2.1%, Loonie +1.5%

Strength meter (since last week) - Aussie +0.49%, Kiwi +2.67%, Loonie +0.83%

AUD/USD -

Trading at 0.713

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 -

• Trade deficit for December came at $3.535 billion.
• Building permits rose by 9.2% in December, down 2.5% from a year ago.

Commentary -                                                                          

• Aussie recovered ground as Dollar weakned across board.

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 best performing currency today as unemployment dropped to 5.3% in fourth quarter from 6% in third.

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 rose sharply on oil price gains and Dollar falls across board.