Currency snapshot (commodity pairs)

Dollar index trading at 96.09 (+0.73%).

Strength meter (today so far) - Aussie -0.94%, Kiwi -0.56%, Loonie -0.67%.

Strength meter (since last week) - Aussie -2.58%, Kiwi -2.04%, Loonie -2.16%.

AUD/USD -

Trading at 0.782

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75,

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.793-0.796

Economic release today -

• NIL

Commentary -                                                                               

• Aussie has broken below immediate support. Further selling is likely, given dollar's strong comeback. Selling the rallies is recommended.

NZD/USD -

Trading at 0.731

Trend meter -

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

Support -

• Long term - 0.653, Medium term - 0.719-0.712, Short term - 0.72

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772, Immediate - 0.748-0.752

Economic release today -

• NIL

Commentary -

• Kiwi posed some bounce back, however rally was sold off near 0.74 area, as dollar bounced back over stronger than expected core CPI.

USD/CAD -

Trading at 1.228

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.19

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.235-1.241, Immediate - 1.225-1.228

Economic release today -

• Consumer prices were weaker than expected with core growing at 2.3% y/y and headline at 0.8% y/y.

Commentary -

• Canadian dollar lost further grounds over strong dollar, however relatively stable oil price is keeping it supported.