Currency snapshot (commodity pairs)

Dollar index trading at 99.11 (+0.10%)

Strength meter (today so far) - Aussie -0.45%, Kiwi -0.87%, Loonie -0.22%.

Strength meter (since last week) - Aussie +1.12%, Kiwi +0.09%, Loonie -0.24%.

AUD/USD -

Trading at 0.709

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range/Sell

Support -

• Long term - 0.60, Medium term - 0.69, Short term - 0.7

Resistance -

• Long term - 0.82, Medium term - 0.785 -0.79, Short term - 0.74

Economic release today -

• New motor vehicle sales dropped -3.6% in October, still up 4.2% from a year ago.

Commentary -                                                                               

• Aussie is down today over risk aversion, further slide likely.

NZD/USD -

Trading at 0.653

Trend meter -

• Long term - Sell, Medium term - Range/sell, Short term - Range/Sell

Support -

• Long term - 0.56, Medium term - 0.625, Short term - 0.65

Resistance -

• Long term - 0.77, Medium term - 0.725, Short term - 0.68

Economic release today -

• NIL

Commentary -

• Kiwi is the worst performer today as recent bounce back in soft commodities expected to be short lived.

USD/CAD -

Trading at 1.333

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support -

• Long term - 1.19, Medium term - 1.28, Short term - 1.303,

Resistance -

• Long term - 1.38, Medium term - 1.35, Short term - 1.34

Economic release today -

• Manufacturing shipments dropped -1.5% in September.

Commentary -                                                                                         

• Loonie is the best performer today, thanks to support from rising oil price. Nevertheless it is down against Dollar.