Currency snapshot (commodity pairs)

Dollar index trading at 93.5 (-0.37%)

Strength meter (today so far) – Aussie +0.44%, Kiwi +0.98%, Loonie +0.67%

Strength meter (since last week) – Aussie +1.52%, Kiwi +0.91%, Loonie +2.02%

AUD/USD –

Trading at 0.747

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.7, Short term – 0.71

Resistance –

• Long term – 0.782, Medium term – 0.75, Short term – 0.75

Economic release today –

• Home loans increased by 1.7%, while investment lending for homes declined by 5%

Commentary –       

• Aussie is gaining on weak Dollar and RBA pause.

NZD/USD –

Trading at 0.701

Trend meter –

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

Support –

• Long term – 0.62, Medium term – 0.63, Short term – 0.656

Resistance –

• Long term – 0.71, Medium term – 0.683, Short term – 0.683

Economic release today –

• RBNZ will announce policy decision at 21:00 GMT.

Commentary –

• Kiwi is all charged up heading into RBNZ. Active call – Sell kiwi against Dollar @0.68 and at rallies with stop loss at 0.725 are and target at 0.61

USD/CAD –

Trading at 1.267

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.278 (broken)

Resistance –

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

Economic release today –

• NIL

Commentary –                                          

• Loonie is best performer this week on rising oil price.