Currency snapshot (commodity pairs)

Dollar index trading at 99.57 (+0.03%)

Strength meter (today so far) – Aussie +0.52%, Kiwi +0.62%, Loonie +0.05%

Strength meter (since last week) – Aussie -1.43%, Kiwi +1.14%, Loonie -0.40%

AUD/USD –

Trading at 0.738

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.755

Economic release today –

• NIL

Commentary –

• Aussie is making a comeback today as risk rally fuels short coverings; still the worst performer of the day. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.694

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.67, Short term – 0.67

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.723

Economic release today –

• RBNZ will announce interest rate decision at 21:00 GMT.

Commentary –

• Kiwi is the best performer of the week so far; the focus is on RBNZ interest rate decision today.

 USD/CAD –

Trading at 1.37

Trend meter –

• Long term – sell, Medium term – buy, Short term – Range/buy

Support –

• Long term – 1.32, Medium term – 1.33, Short term – 1.35

Resistance –

• Long term – 1.38, Medium term – 1.38, Short term – 1.38

Economic release today –

• NIL

Commentary –   

• Loonie remains weak on lower oil price.