Currency snapshot (commodity pairs)

Dollar index trading at 101.56 (+0.20%)

Strength meter (today so far) – Aussie +0.01%, Kiwi -0.23%, Loonie -0.14%

Strength meter (since last week) – Aussie +0.01%, Kiwi -0.23%, Loonie -0.14%

AUD/USD –

Trading at 0.759

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 –

• TD securities inflation came at 2.1 percent y/y in February.
• Retail sales grew 0.4 percent in January.

Commentary –

• Aussie is likely to push higher as the speculators sharply increased their long positions.

NZD/USD –

Trading at 0.702

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 –

• RBNZ governor Wheeler is scheduled to speak 18:00 GMT.

Commentary –

• Kiwi is testing key support around 0.7 area.

 USD/CAD –

Trading at 1.338

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 still the worst performer of the week as oil slipped as the dollar strengthened.