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Currency snapshot (commodity pairs)

Dollar index trading at 89.58 (-0.26%)

Strength meter (today so far) – Aussie +0.38%, Kiwi +0.48%, Loonie +0.64%

Strength meter (since last week) – Aussie +0.22%, Kiwi +0.61%, Loonie +1.86%

AUD/USD –

Trading at 0.773

Trend meter –

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

Support –

  • Long term – 0.746, Medium term – 0.765, Short term – 0.765

Resistance –

  • Long term – 0.85, Medium term – 0.825, Short term – 0.8

Economic release today –

  • NIL

Commentary –

  • Aussie recovered from earlier loss as dollar weakens on trade tensions. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.725

Trend meter 6

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

Support –

  • Long term – 0.68, Medium term – 0.69, Short term – 0.71

Resistance –

  • Long term – 0.76, Medium term – 0.735, Short term – 0.735

Economic release today –

  • NIL.

Commentary –

  • Kiwi recovered from earlier loss on a weaker dollar over trade friction.

 USD/CAD –

Trading at 1.285

Trend meter –

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

Support –

  • Long term – 1.2, Medium term – 1.22, Short term – 1.24

Resistance –

  • Long term – 1.32, Medium term – 1.3, Short term – 1.3

Economic release today –

  • Retail sales grew 0.3 percent in January.
  • Consumer price inflation up 2.2 percent y/y in February.

Commentary –

  • Loonie is the best performer of the week so far.

 

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