Currency snapshot (commodity pairs)

Dollar index trading at 96.49 (-0.84%)

Strength meter (today so far) - Aussie +0.85%, Kiwi +1.2%, Loonie +0.78%

Strength meter (since last week) - Aussie +1.93%, Kiwi +3.83%, Loonie +2.05%

AUD/USD -

Trading at 0.722

Trend meter -

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

Support -

• Long term - 0.63, Medium term - 0.68, Short term - 0.703

Resistance -

• Long term - 0.75, Medium term - 0.738, Short term - 0.733

Economic release today -

• Australia National Bank's confidence rose to 4 from 1 in fourth quarter of 2015.
• AIG performance of construction index will be released at 22:30 GMT.

Commentary -                                                                               

• Australian Dollar rose on weak Dollar, defying weakness in China.

NZD/USD -

Trading at 0.673

Trend meter -

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

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 and this week as better unemployment rate is still making the mood.

USD/CAD -

Trading at 1.369

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 continuing its gain largely due to weak US Dollar.