Currency snapshot (commodity pairs)

Dollar index trading at 100.75 (-0.05%)

Strength meter (today so far) – Aussie -0.28%, Kiwi -0.72%, Loonie -0.44%

Strength meter (since last week) – Aussie +0.85%, Kiwi +0.06%, Loonie -0.22%

AUD/USD –

Trading at 0.738

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 –

• Construction work done declined by 4.9 percent in the third quarter.

Commentary –

• The Australian dollar is finding support from the rise in iron ore 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 0.701

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 under heavy selling pressure amid a stronger dollar. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.35

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(broken), Short term – 1.345(broken)

Economic release today –

• NIL

Commentary –   

• Despite rise in oil prices loonie’s performance has remained weak. We expect the loonie to reach 1.375 and 1.4.