Currency snapshot (commodity pairs)

Dollar index trading at 99.05 (+0.01%)

Strength meter (today so far) – Aussie -0.43%, Kiwi -0.79%, Loonie -0.36%

Strength meter (since last week) – Aussie -0.01%, Kiwi -0.71%, Loonie -0.88%

AUD/USD –

Trading at 0.753

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 is down for the week as commodities continue to slide. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.696

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 –

• Weaker commodity prices weigh on the kiwi.

 USD/CAD –

Trading at 1.36

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 reached the lowest point of the year as the US imposes tariffs on lumber from Canada.