Currency snapshot (commodity pairs)

Dollar index trading at 97.02 (+0.39%)

Strength meter (today so far) – Aussie -0.51%, Kiwi -0.41%, Loonie -0.1%

Strength meter (since last week) – Aussie -1.65%, Kiwi -2.30%, Loonie -1.15%

AUD/USD –

Trading at 0.743

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Buy

Support –

• Long term – 0.683, Medium term – 0.71, Short term – 0.742

Resistance –

• Long term – 0.82, Medium term – 0.79, Short term – 0.76

Economic release today –

• NIL

Commentary –                                                                               

• Aussie is scaling back its last week’s gain as iron sliding along.

NZD/USD –

Trading at 0.658

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 –

• Fourth quarter GDP figure will be released at 21:45 GMT.

Commentary –

• Kiwi is worst performer this week, additional loss is due to RBNZ rate cut.

USD/CAD –

Trading at 1.335

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range/Sell

Support –

• Long term – 1.285, Medium term – 1.285 , Short term – 1.316

Resistance –

• Long term – 1.41, Medium term – 1.387, Short term – 1.35

Economic release today –

• Manufacturing shipments rose by 2.3% in January.

Commentary –                                                                                         

• Canadian Dollar is flat today due to dual effect of stronger Dollar and oil. Next targets are, 1.32, 1.29 and 1.17 area.