Currency snapshot (commodity pairs)

Dollar index trading at 100.73 (-0.35%)

Strength meter (today so far) – Aussie -0.15%, Kiwi +0.07%, Loonie +0.33%

Strength meter (since last week) – Aussie +0.60%, Kiwi +0.68%, Loonie +0.38%

AUD/USD –

Trading at 0.771

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Buy

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.75

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.78

Economic release today –

• Consumer inflation expectations marginally declined to 4.1 percent in February, down from 4.3 percent in January.
• Unemployment rate came at 5.7 percent as participation rate declined by 0.1 percent. Net employment rose by 13,500.

Commentary –

• The Aussie is heading for a test of key resistance around 0.78 area. Rise in commodity prices likely to keep the Aussie supported.

NZD/USD –

Trading at 0.723

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 –

• Business PMI report for February will be released at 21:30 GMT, followed by retail sales

Commentary –

• Kiwi finally started to recover from RBNZ comments, the best performer of the week so far.

 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 positive against the dollar but the worst performer of the week.