Currency snapshot (commodity pairs)

Dollar index trading at 102.95 (-0.29%)

Strength meter (today so far) – Aussie -0.01%, Kiwi -0.03%, Loonie +0.02%

Strength meter (since last week) – Aussie -0.59%, Kiwi -0.56%, Loonie -0.26%

AUD/USD –

Trading at 0.726

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 trying to form a bottom around 0.725. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82. This call is under threat from a stronger dollar.

NZD/USD –

Trading at 0.692

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.69 (broken), Short term – 0.69 (broken)

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• Third quarter current account balance and GDP reports will be released at 21:45 GMT.

Commentary –

• The kiwi breaks 0.69 area, decline might extend towards 0.675 area.

 USD/CAD –

Trading at 1.337

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.3 , Short term – 1.3

Resistance –

• Long term – 1.38, Medium term – 1.365, Short term – 1.365

Economic release today –

• NIL

Commentary –   

• Loonie weakens in the face of a stronger dollar and struggling oil price. We expect the loonie to reach 1.375 and 1.4.