Currency snapshot (commodity pairs)

Dollar index trading at 96.05 (+0.44%)

Strength meter (today so far) – Aussie -0.84%, Kiwi -0.61%, Loonie -1.04%

Strength meter (since last week) – Aussie -0.55%, Kiwi -1.08%, Loonie -1.47%

AUD/USD –

Trading at 0.756

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 –

• House price index up 7.6% in fourth quarter from a year ago.

Commentary –                                                                               

• Australian Dollar dropped sharply due to stronger Dollar.

NZD/USD –

Trading at 0.671

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 –

• Trade balance for February to be released at 21:45 GMT.

Commentary –

• Kiwi is relatively better performer today but still down over stronger Dollar.

USD/CAD –

Trading at 1.319

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 –

• NIL

Commentary –                                                                                         

• Loonie is worst performer this week thanks to weaker oil and stronger Dollar. Next targets are, 1.285 and 1.17 area.