Currency snapshot (commodity pairs)

Dollar index trading at 100.51 (+0.15%)

Strength meter (today so far) – Aussie +0.20%, Kiwi +0.03%, Loonie +0.06%

Strength meter (since last week) – Aussie +0.20%, Kiwi +0.03%, Loonie +0.06%

AUD/USD –

Trading at 0.755

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 Aussie is still hovering above key support area of 0.75; speculators increased long positions last week.

NZD/USD –

Trading at 0.725

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 is focused on the Dollar’s strength and RBNZ outlook.

 USD/CAD –

Trading at 1.315

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 marginally higher today. We expect the loonie to reach 1.375 and 1.4.