Currency snapshot (commodity pairs)

Dollar index trading at 100 (+0.27%)

Strength meter (today so far) – Aussie -0.34%, Kiwi +0.23%, Loonie +0.02%

Strength meter (since last week) – Aussie -0.34%, Kiwi +0.23%, Loonie +0.02%

AUD/USD –

Trading at 0.766

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 – 0.78, Short term – 0.78

Economic release today –

• TD securities inflation rose 0.6 percent in January, up 2.1 percent for the year.
• Retail sales declined 0.1 percent in January.

Commentary –

• The Aussie is the only commodity pair down today.

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 –

• The focus for kiwi is on RBNZ policy this week.

 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, oil price and dollar’s strength remain key.