Currency snapshot (commodity pairs)

Dollar index trading at 97 (+0.46%)

Strength meter (today so far) – Aussie -1.10%, Kiwi -0.10%, Loonie -0.50%

Strength meter (since last week) – Aussie -1.11%, Kiwi -1.04%, Loonie -0.55%

AUD/USD –

Trading at 0.749

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.765

Economic release today –

• RBA released its minutes of meeting.

Commentary –

• Aussie is up with support from commodities. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82

NZD/USD –

Trading at 0.703

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• NIL

Commentary –

• Kiwi is down too, focus is on today’s dairy auction.

USD/CAD –

Trading at 1.302

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.25

Resistance –

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

Economic release today –

• NIL

Commentary –   

• Loonie turned out as best performer of the week over improved oil price but declining currently along oil price.