Currency snapshot (commodity pairs)

Dollar index trading at 95.87 (-0.14%)

Strength meter (today so far) – Aussie +0.61%, Kiwi +0.41%, Loonie +0.29%

Strength meter (since last week) – Aussie +1.81%, Kiwi +1.28%, Loonie +0.40%

AUD/USD –

Trading at 0.755

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 –

• Westpac leading index remained flat for the week..

Commentary –

• The Australian dollar continues to benefit from firmer commodity prices. 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 0.735

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 –

• RBNZ is about to announce interest rate decision at 21:00 GMT.

Commentary –

• The kiwi is awaiting RBNZ rate decision. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.323

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 –

• Wholesale sales report will be released at 12:30 GMT.

Commentary –   

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