Currency snapshot (commodity pairs)

Dollar index trading at 97.31 (-0.35%)

Strength meter (today so far) – Aussie +0.26%, Kiwi +1.12%, Loonie +0.20%

Strength meter (since last week) – Aussie +1.12%, Kiwi +1.75%, Loonie +0.15%

AUD/USD –

Trading at 0.767

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 –

• Building permits declined by 8.7 percent in September, down 6.4 percent this week.
• AiG performance of services index will be published at 22:30 GMT.

Commentary –

• The Australian dollar is up a percent this week but still struggles to break 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 0.729

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 –

• RBNZ inflation expectations rose by 1.7 percent in the third quarter.

Commentary –

• The kiwi turned out to be the best performer this week as dairy prices rose by 11.4 percent this week. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.336

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 – 1.38, Medium term – 1.345, Short term – 1.345

Economic release today –

• NIL

Commentary –   

• The Canadian dollar remains the worst performer this week. We expect the loonie to reach 1.375 and 1.4.