Currency snapshot (commodity pairs)

Dollar index trading at 96.37 (-0.01%)

Strength meter (today so far) – Aussie -0.02%, Kiwi -0.05%, Loonie +0.02%

Strength meter (since last week) – Aussie +0.64%, Kiwi +0.11%, Loonie +0.12%

AUD/USD –

Trading at 0.766

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 –

• National Australia Bank’s business confidence declined to 4 and business conditions declined to 8

Commentary –

• Aussie is the best performer for the week. 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 0.715

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 –

• Expectations of further easing from RBNZ continue to weigh on the kiwi.

USD/CAD –

Trading at 1.315

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 – 1.34, Medium term – 1.325, Short term – 1.325

Economic release today –

• NIL

Commentary –   

• Candian dollar’s performance improved after surprise OPEC meeting next month.