Currency snapshot (commodity pairs)

Dollar index trading at 99.90 (+0.20%)

Strength meter (today so far) - Aussie -0.57%, Kiwi -0.69%, Loonie -0.09%.

Strength meter (since last week) - Aussie -0.57%, Kiwi -0.69%, Loonie -0.09%.

AUD/USD -

Trading at 0.719

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 -

• NIL

Commentary -                                                                               

• Aussie dropped sharply during Asian hours as commodities drop, however recovering some of its earlier loss heading towards end of the day.

NZD/USD -

Trading at 0.651

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.625, Short term - 0.635

Resistance -

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

Economic release today -

• NIL

Commentary -

• Kiwi is likely to drop further if it fails to clear resistance around 0.66.

USD/CAD -

Trading at 1.335

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 -

• NIL

Commentary -                                                                                         

• Oil's rise after Saudi Arabia, signaled cooperation with OPEC and non-OPEC producers is supporting loonie, making it best performer today.