Currency snapshot (commodity pairs)

Dollar index trading at 101.62 (+0.19%)

Strength meter (today so far) – Aussie -0.17%, Kiwi -0.30%, Loonie +0.12%

Strength meter (since last week) – Aussie -0.17%, Kiwi -0.30%, Loonie +0.12%

AUD/USD –

Trading at 0.747

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 –

• TD securities inflation rose by 0.5 percent in December, up 1.8 percent from a year ago.

Commentary –

• The Aussie is marginally down today as the struggle continues around key 0.75 area.

NZD/USD –

Trading at 0.709

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 –

• NIZER business confidence for  thefourth quarter will be released at 21:00 GMT.

Commentary –

• After finding some support around 0.69 area last week, Kiwi bulls face a real test of strength this week.

 USD/CAD –

Trading at 1.314

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 is only counter positive against the dollar among commodity pairs. We expect the loonie to reach 1.375 and 1.4.