Currency snapshot (commodity pairs)

Dollar index trading at 92.39 (-0.22%)

Strength meter (today so far) – Aussie -1.8%, Kiwi -1%, Loonie -0.65%

Strength meter (since last week) – Aussie -0.91%, Kiwi -0.13%, Loonie -0.45%

AUD/USD –

Trading at 0.752

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 –

• RBA surprised the market with a 25 basis points rate cut.

Commentary –                                                                               

• Aussie is worst performer today as RBA eased policy, a break below 0.75 area could push it lower further 500 pips.

NZD/USD –

Trading at 0.696

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 –

• Employment report will be released at 22:45 GMT.

Commentary –

• Kiwi is down today over relatively stronger Dollar.

USD/CAD –

Trading at 1.261

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 –

• BOC governor Poloz is scheduled to speak at 16:30 GMT.

Commentary –                                                                                         

• Loonie failed to break significant 1.25 area as oil retreated. All targets reached except 1.17 area, which may take a while and correction higher for the pair.