Currency snapshot (commodity pairs)

Dollar index trading at 95.96 (-0.37%)

Strength meter (today so far) – Aussie +0.72%, Kiwi +0.78%, Loonie +0.45%

Strength meter (since last week) – Aussie +0.72%, Kiwi +0.78%, Loonie +0.45%

AUD/USD –

Trading at 0.755

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 –                                                                               

• Aussie is riding on weaker Dollar today. Likely to rise another 80-100 pips before finding next resistance.

NZD/USD –

Trading at 0.673

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 –

• Weaker Dollar is providing support to Kiwi, but unlikely to break above 0.69 area.

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 much better performer today compared to last week, clawing back some of yesterday’s losses over weaker Dollar.Next targets are, 1.285 and 1.17 area.