Currency snapshot (commodity pairs)

Dollar index trading at 98.98 (+0.22%)

Strength meter (today so far) – Aussie +0.51%, Kiwi +0.09%, Loonie +0.15%

Strength meter (since last week) – Aussie +0.40%, Kiwi -0.31%, Loonie -0.00%

AUD/USD –

Trading at 0.763

Trend meter –

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

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 but continues to hover around key resistance. 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 0.714

Trend meter –

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

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 is the worst performer of the week. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.335

Trend meter –

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

Support –

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

Resistance –

• Long term – 1.34, Medium term – 1.325 (broken), Short term – 1.325 (broken)

Economic release today –

• NIL

Commentary –   

• The Canadian dollar is flat for the week. We expect the loonie to reach 1.375 and 1.4.