Currency snapshot (commodity pairs)

Dollar index trading at 97.73 (-0.46%)

Strength meter (today so far) - Aussie +1.15%, Kiwi +1.15%, Loonie -0.40%

Strength meter (since last week) - Aussie +3.50%, Kiwi +1.74%, Loonie +0.90%

AUD/USD -

Trading at 0.737

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 (broken)

Economic release today -

• Trade balance came at -$2.94 billion.
• Fourth quarter GDP rose 0.6% q/q and 35 from a year ago.

Commentary -                                                                               

• Aussie is best performer this week as it rides on weaker Dollar today.

NZD/USD -

Trading at 0.674

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 -

• ANZ commodity prices rose by 0.4% in February.

Commentary -

• Kiwi is up sharply today on weaker Dollar.

USD/CAD -

Trading at 1.338

Trend meter -

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

Support -

• Long term - 1.285, Medium term - 1.34, Short term - 1.35(broken)

Resistance -

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

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar is up but performance subdued as oil price remain stagnant.