Dollar index trading at 97.09 (-0.10%)
Strength meter (today so far) – Aussie -0.02%, Kiwi +0.65%, Loonie +0.29%
Strength meter (since last week) – Aussie +0.15%, Kiwi +1.59%, Loonie +0.52%
AUD/USD –
Trading at 0.745
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 –
- Declining iron ore price weighs on Aussie despite a downbeat dollar. 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 – 0.67, Short term – 0.67
Resistance –
- Long term – 0.76, Medium term – 0.73, Short term – 0.723
Economic release today –
- NIL
Commentary –
- A weaker dollar and higher commodity prices pushing the kiwi higher; the best performer of the week so far.
USD/CAD –
Trading at 1.345
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 declines as the oil price dropped sharply after OPEC deal.