Currency snapshot (commodity pairs)

Dollar index trading at 100.51 (+0.20%)

Strength meter (today so far) – Aussie -1.15%, Kiwi -0.55%, Loonie -0.22%

Strength meter (since last week) – Aussie -1.01%, Kiwi -0.73%, Loonie +0.41%

AUD/USD –

Trading at 0.746

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 –

• New motor vehicle sales declined by 2.4 percent in October, up 1.2 percent from a year ago.
• Wage price index rose by 0.4 percent in third quarter, up 1.9 percent from a year ago.

Commentary –

• The Australian dollar is sharply down as the iron ore prices declined. 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 0.705

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 –

• Global dairy auction is scheduled today.
• Retail sales report for third quarter will be released at 21:45 GMT.

Commentary –

• The kiwi is testing support around 0.7 area. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.348

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 –   

• Loonie’s performance improved after oil price recovered . We expect the loonie to reach 1.375 and 1.4.