Currency snapshot (commodity pairs)

Dollar index trading at 101.34 (+0.20%)

Strength meter (today so far) – Aussie -0.31%, Kiwi -0.58%, Loonie -0.40%

Strength meter (since last week) – Aussie +0.68%, Kiwi +0.49%, Loonie -1.70%

AUD/USD –

Trading at 0.754

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 –

• Consumer inflation expectations rose to 4.3 percent in January.
• Unemployment rate ticked higher to 5.8 percent.

Commentary –

• The aussie is ending the week as the best performer and above key support area of 0.75

NZD/USD –

Trading at 0.715

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 –

• Kiwi suffered big selloffs from the resistance area around 0.72 area.

 USD/CAD –

Trading at 1.338

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 the worst performer of the week as oil price declines on glut fear. We expect the loonie to reach 1.375 and 1.4.