Currency snapshot (commodity pairs)

Dollar index trading at 97.1 (+0.18%).

Strength meter (today so far) - Aussie -0.03%, Kiwi +0.01%, Loonie +0.36%.

Strength meter (since last week) - Aussie +0.76%, Kiwi 0.40%, Loonie +0.58%.

AUD/USD -

Trading at 0.783

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75, Immediate - 0.78-0.775/0.763

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.79-0.80

Economic release today -

• NIL

Commentary -

• Aussie faced sharp selloff after it failed to break above resistance. Pair traded as low as 0.78 after making high at 0.788. Further sell off towards support can't be ruled out.

NZD/USD -

Trading at 0.759

Trend meter -

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

Support -

• Long term - 0.653, Medium term - 0.719-0.712, Short term - 0.738-0.736, Immediate - 0.757- 0.755

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772

Economic release today -

• NIL

Commentary -

• Kiwi is lost ground after making high around 0.766 today. Pair is taking cue from broad based dollar strength today. Candles are showing some sort of top formation. Today's candle is a Doji so far.

USD/CAD -

Trading at 1.248

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.24-1.234, Short term - 1.247-1.245

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.284, Immediate - 1.254-1.256

Economic release today -

• NIL

Commentary -

• Canadian dollar gained sharply today and tested the upper bound of medium term support range as Crude oil prices spiked over air attacks from Saudi Arabia over Yemen rebels. However it gave up most of the gains, as dollar found bids in New York Session. A support break might see rapid appreciation. Loonie traded as low as 1.2409 intraday. Breaking might lead the pair towards 1.17. Pair need to break above immediate resistance to negate downside bias.