Currency snapshot (commodity pairs)

Dollar index trading at 101.49 (+0.55%)

Strength meter (today so far) – Aussie -0.42%, Kiwi -0.57%, Loonie -0.39%

Strength meter (since last week) – Aussie +0.03%, Kiwi -0.65%, Loonie -0.47%

AUD/USD –

Trading at 0.765

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.75

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.78

Economic release today –

• NIL

Commentary –

• The Aussie likely to test the key resistance around 0.78 area this week but in decline as the dollar recovered. A break could push the pair towards 0.81 area.

NZD/USD –

Trading at 0.713

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.733

Economic release today –

• Global dairy auction is scheduled today.

Commentary –

• Kiwi is the worst performer of the week so far. The focus is on dairy auction today.

 USD/CAD –

Trading at 1.315

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.3 , Short term – 1.3

Resistance –

• Long term – 1.38, Medium term – 1.365, Short term – 1.365

Economic release today –

• NIL

Commentary –   

• Loonie declined as the dollar recovered and oil price declined.