Currency snapshot (commodity pairs)

Dollar index trading at 99.10 (+0.07%)

Strength meter (today so far) – Aussie -0.36%, Kiwi -0.38%, Loonie -0.15%

Strength meter (since last week) – Aussie -0.05%, Kiwi -0.09%, Loonie -0.44%

AUD/USD –

Trading at 0.76

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 –
 

• Dollar-rerbound pushed Aussie lower amid iron ore selloff. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.702

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 hovering around 0.7 support handle. Consolidation likely to continue.

 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 –

• BoC governor Poloz is scheduled to speak at 14:00 GMT.

Commentary –   

• Loonie is the worst performer of the day and the week as oil price continues to weigh and speculators reversed position from long to short.