Currency snapshot (commodity pairs)

Dollar index trading at 97.77 (+0.34%)

Strength meter (today so far) - Aussie -0.62%, Kiwi -0.48%, Loonie -0.40%

Strength meter (since last week) - Aussie +1.51%, Kiwi +1.15%, Loonie +0.33%

AUD/USD -

Trading at 0.715

Trend meter -

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

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 -

• Wage price index rose 0.5% in fourth quarter of 2015, up 2.2% from a year ago.

Commentary -                                                                               

• Aussie is on its way to giving up all the gains for the week. Marginally higher for the week.

NZD/USD -

Trading at 0.66

Trend meter -

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

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 in red, giving up earlier gains as Dollar remain strong and equities slide.

USD/CAD -

Trading at 1.385

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.365, Short term - 1.365,

Resistance -

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

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar gave up gains as oil started sliding again, post Ali Naimi comments.