Currency snapshot (commodity pairs)

Dollar index trading at 95.13 (-0.39%)

Strength meter (today so far) – Aussie +0.42%, Kiwi -0.15%, Loonie +0.47%

Strength meter (since last week) – Aussie +2.75%, Kiwi +1.19%, Loonie +1.45%

AUD/USD –

Trading at 0.767

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 –

• NIL

Commentary –

• The Australian dollar is the best performer of the week, riding on higher 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 0.734

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 remains strong, however, RBNZ stressing on further rate cut is adding pressure. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.3

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 gaining momentum as the oil price recovers sharply.