Currency snapshot (commodity pairs)

Dollar index trading at 100.31 (+0.14%)

Strength meter (today so far) – Aussie +0.15%, Kiwi +0.42%, Loonie +0.12%

Strength meter (since last week) – Aussie -0.60%, Kiwi -1.26%, Loonie -0.84%

AUD/USD –

Trading at 0.764

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 –

• HIA new home sales in January up 0.2 percent.

Commentary –

• The Aussie remains downbeat this week as the dollar turned positive. Likely to rise further.

NZD/USD –

Trading at 0.72

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 –

• RBNZ succeeded in pushing down the Kiwi with a strong statement on exchange rate. Kiwi is the worst performer of the week.

 USD/CAD –

Trading at 1.313

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 –

• Housing price index for December will be released at 13:30 GMT.

Commentary –   

• Loonie is down over weaker oil and the stronger dollar.