Currency snapshot (commodity pairs)

Dollar index trading at 94.82 (-0.13%)

Strength meter (today so far) – Aussie +0.11%, Kiwi +0.67%, Loonie -0.27%

Strength meter (since last week) – Aussie +1.92%, Kiwi +1.66%, Loonie +0.82%

AUD/USD –

Trading at 0.769

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 –

• NIL

Commentary –                                                                               

• Aussie is best performer the week.

NZD/USD –

Trading at 0.691

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 –

• Business PMI will be released at 22:30 GMT.

Commentary –

• Kiwi is still testing resistance around 0.69-0.7 area

USD/CAD –

Trading at 1.287

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.22 , Short term – 1.25

Resistance –

• Long term – 1.334, Medium term – 1.32, Short term – 1.3

Economic release today –

• Manufacturing shipments declined by -3.3% in February.

Commentary –                                                                                         

• Loonie failed to gain on weaker Dollar due to lower oil price. All targets reached except 1.17 area, which may take a while and correction higher for the pair.