Currency snapshot (commodity pairs)

Dollar index trading at 99.98 (+0.16%)

Strength meter (today so far) – Aussie +0.34%, Kiwi +0.39%, Loonie +0.07%

Strength meter (since last week) – Aussie +1.92%, Kiwi +0.83%, Loonie +1.02%

AUD/USD –

Trading at 0.768

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 (broken), Short term – 0.765 (broken)

Economic release today –

• NIL

Commentary –

• The Aussie is the best performer against the dollar this week as the commodity prices rise and the dollar weakens. Strong trade balance provided necessary support.

NZD/USD –

Trading at 0.731

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 – 0.733

Economic release today –

• NIL

Commentary –

• Kiwi is struggling at key resistance area around 0.733.

 USD/CAD –

Trading at 1.302

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 threatening to break key resistance at 1.3. But backed out for the week as the dollar gains grounds.