Currency snapshot (commodity pairs)

Dollar index trading at 97.76 (+0.01%)

Strength meter (today so far) – Aussie -0.30%, Kiwi -0.15%, Loonie +0.02%

Strength meter (since last week) – Aussie +0.43%, Kiwi +0.01%, Loonie +0.21%

AUD/USD –

Trading at 0.769

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 –

• National Australia Bank’s business confidence declined to 4 from 6. Business conditions declined to 6 from 8.

Commentary –

• The Australian dollar continues to test 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 0.732

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 –

• Electric card retail sales will be released at 21:45 GMT.

Commentary –

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

 USD/CAD –

Trading at 1.337

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 is almost flat for the day. We expect the loonie to reach 1.375 and 1.4.