Currency snapshot (commodity pairs)

Dollar index trading at 94.9 (+0.32%)

Strength meter (today so far) – Aussie -0.08%, Kiwi -0.33%, Loonie -0.30%

Strength meter (since last week) – Aussie -1.71%, Kiwi -1.64%, Loonie -1.22%

AUD/USD –

Trading at 0.754

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.728, Short term – 0.742

Resistance –

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

Economic release today –

• AIG performance of construction index will be released at 23:30 GMT.

Commentary –                                                                               

• Aussie is almost flat today, worst performer this week.

NZD/USD –

Trading at 0.678

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 – 0.77, Medium term – 0.724, Short term – 0.69

Economic release today –

• NIL

Commentary –

• Kiwi is relatively better performer as dairy prices rose by 2.1% in yesterday’s auction.

USD/CAD –

Trading at 1.318

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 –

• IVEY PMI will be released at 14:00 GMT.

Commentary –                                                                                         

• Loonie is much better performer considering strong Dollar as rise in oil price provides support. All targets reached except 1.17 area, which may take a while and correction higher for the pair.