Currency snapshot (commodity pairs)

Dollar index trading at 101.77 (+0.10%)

Strength meter (today so far) – Aussie +0.21%, Kiwi -0.16%, Loonie -0.02%

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 –

• RBA kept interest rate steady at 1.5 percent.

Commentary –

• Aussie is the best performer of the day as RBA maintained optimistic outlook.

NZD/USD –

Trading at 0.698

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 –

• Global dairy auction is scheduled today.
• Fourth quarter manufacturing sales report will be published at 21:45 GMT.

Commentary –

• Kiwi has once again broken below 0.7 support area.

 USD/CAD –

Trading at 1.341

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 –

• Trade balance for January will be reported at 13:30 GMT, followed by IVEY PMI at 15:00 GMT.

Commentary –   

• Loonie is consolidating around 1.35 area as uncertainties in US looms amid weaker oil price.