Currency snapshot (commodity pairs)

Dollar index trading at 100.05 (-0.09%)

Strength meter (today so far) – Aussie +0.55%, Kiwi +0.38%, Loonie -0.22%

Strength meter (since last week) – Aussie +0.55%, Kiwi +0.38%, Loonie -0.22%

AUD/USD –

Trading at 0.772

Trend meter –

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

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 –

• NIL

Commentary –

• Aussie started the week on a positive footing. The best performer of the day. Heading for a key test around resistance of 0.78 area. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.704

Trend meter –

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

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 –

• Kiwi is rising slowly on weaker dollar. Range trading likely to continue.

 USD/CAD –

Trading at 1.335

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 –

• Wholesale sales report for January will be released at 12:30 GMT.

Commentary –   

• The worst performer of the day so far on weakness of the oil price.