Currency snapshot (commodity pairs)

Commodity pairs (AUD, NZD, & CAD) are treading waters ahead of FOMC against dollar. A chart and table is attached for explanation.

• Aussie is trading in a range of 40 pips today, waiting for policy decision by FOMC. Aussie is currently trading at 0.762. Immediate Support lies at 0.757, 0.749 & Resistance 0.775, 0.785.

• Kiwi similar to Aussie trading within a range of 40 pips. Trade balance for fourth quarter is down by $ -3.19 billion. GDP data for fourth quarter to be released at 21:45 GMT and FOMC might provide further direction for the pair. Pair is currently trading at 0.734; failing to break above the support turned resistance. Immediate Support lies at 0.72, 0.716 & Resistance 0.744, 0.757.

• Canadian dollar is the worst performer of the week and continue to lose ground trading today. Wholesale sales for January is down by -3.1% worse than previous growth of 2.8%. Bets on further easing by central bank is increasing. The pair is currently trading at 1.281. Immediate Support lies at 1.262, 1.24 & Resistance 1.284.