Currency snapshot (commodity pairs)

Dollar index trading at 99.83 (-0.53%)

Strength meter (today so far) – Aussie +0.07%, Kiwi +0.12%, Loonie +0.16%

Strength meter (since last week) – Aussie +0.66%, Kiwi +0.63%, Loonie +0.00%

AUD/USD –

Trading at 0.773

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 –

• House price index is up 7.7 percent y/y.

Commentary –

• Aussie is again the best performer of the week but struggling around resistance of 0.78 area. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.706

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 –

• Global dairy auction is scheduled today.

Commentary –

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

 USD/CAD –

Trading at 1.332

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 –

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

Commentary –   

• The worst performer of the week so far on the weakness of the oil price. Flat for the week so far.