Currency snapshot (commodity pairs)

Dollar index trading at 97.02 (+0.39%)

Strength meter (today so far) – Aussie +1.01%, Kiwi +1.42%, Loonie +0.72%

Strength meter (since last week) – Aussie +0.86%, Kiwi +1.31%, Loonie +1.30%

AUD/USD –

Trading at 0.762

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 (testing)

Economic release today –

• Unemployment rate dropped by 0.2% to 5.8%, largely due to equivalent drop in participation.

Commentary –                                                                               

• Australian Dollar reversed this week’s loss riding on weaker Dollar, worst performer this week.

NZD/USD –

Trading at 0.683

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 reversed its more than 2% loss and up sharply this week.

USD/CAD –

Trading at 1.303

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 (broken)

Resistance –

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

Economic release today –

• Wholesale sales flat for January.

Commentary –                                                                                         

• Loonie is finding support of weaker Dollar and stronger oil. Next targets are, 1.285 and 1.17 area.