Currency snapshot (commodity pairs)

Dollar index trading at 99.70 (+0.14%)

Strength meter (today so far) – Aussie +0.13%, Kiwi -0.17%, Loonie -0.25%

Strength meter (since last week) – Aussie +0.65%, Kiwi +0.36%, Loonie +0.61%

AUD/USD –

Trading at 0.759

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 the best performer against the dollar as the commodity prices remain supportive.

NZD/USD –

Trading at 0.728

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 scaled back gains from key resistance area around 0.733. despite a weakness in the dollar.

 USD/CAD –

Trading at 1.307

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 –

• RBC manufacturing PMI report will be published at 14:30 GMT.

Commentary –   

• Loonie remain higher benefiting from a weaker dollar. We expect the loonie to reach 1.375 and 1.4.