Currency snapshot (commodity pairs)

Dollar index trading at 94.92 (+0.16%)

Strength meter (today so far) – Aussie -0.36%, Kiwi -0.42%, Loonie +0.22%

Strength meter (since last week) – Aussie +0.87%, Kiwi +1.05%, Loonie +1.93%

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 – 0.79

Economic release today –

• NIL

Commentary –                                                                               

• Australian Dollar treading water amid stronger Dollar today, worst performing commodity currency this week.

NZD/USD –

Trading at 0.681

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 testing resistance around 0.69 area.

USD/CAD –

Trading at 1.295

Trend meter –

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

Support –

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

Resistance –

• Long term – 1.38, Medium term – 1.35, Short term – 1.33

Economic release today –

• Retail sales rose by 2.1% in January, up 1.2% from a year ago.
• Consumer price index rose 1.4% from a year ago, up 1.9% for core components.

Commentary –                                                                                         

• Loonie is best performer this week, riding on stronger oil price and weaker Dollar. Next targets are, 1.285 and 1.17 area.