Currency snapshot (commodity pairs)

Dollar index trading at 94.22 (-0.29%)

Strength meter (today so far) – Aussie +0.12%, Kiwi -0.56%, Loonie +0.06%

Strength meter (since last week) – Aussie +1.28%, Kiwi +1.13%, Loonie +1.01%

AUD/USD –

Trading at 0.781

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 –

• Westpac leading economic index declined -0.1%.

Commentary –                                                                               

• Aussie is best performing currency today and this week among commodity pairs as iron ore price rise providing support.

NZD/USD –

Trading at 0.699

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 – 0.724

Economic release today –

• Dairy auction is scheduled today.

Commentary –

• Kiwi worst performer today, despite positive dairy auctions.

USD/CAD –

Trading at 1.269

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 –

• NIL

Commentary –                                                                                         

• Loonie recovered from earlier loss as oil price recovered. All targets reached except 1.17 area, which may take a while and correction higher for the pair.