Currency snapshot (commodity pairs)

Dollar index trading at 95.37 (+0.03%)

Strength meter (today so far) – Aussie -0.07%, Kiwi -0.12%, Loonie -0.03%

Strength meter (since last week) – Aussie -0.77%, Kiwi -0.75%, Loonie -1.27%

AUD/USD –

Trading at 0.747

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 –

• Consumer inflation expectations dropped to 3.3 percent in September, down from 3.5 percent in last month.
• New motor vehicle sales grew by 0.1 percent in August.
• Unemployment rate declined to 5.6 percent.

Commentary –                                                                               

• The Australian dollar failed to gain from the drop in unemployment rate as it was due to drop in participation rate. 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 0.726

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 –

• The kiwi has broken below 0.73 support area and likely to slide down further. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.32

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 –   

• The Canadian dollar remains the worst performer of the week on weaker oil price.