Currency snapshot (commodity pairs)

Dollar index trading at 97.01 (+0.78%)

Strength meter (today so far) - Aussie -0.58%, Kiwi -0.25%, Loonie -0.66%.

Strength meter (since last week) - Aussie -1.01%, Kiwi -0.43%, Loonie -1.44%.

AUD/USD -

Trading at 0.743

Trend meter -

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

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 -

• RBA kept rates steady in today's meeting.

Commentary -                                                                               

• Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.

NZD/USD -

Trading at 0.665

Trend meter -

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

Support -

• Long term - 0.653, Medium term - 0.65, Short term - 0.65

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.705

Economic release today -

• NIL

Commentary -

• Kiwi likely to remain depressed and in consolidation as commodity rout continues.

USD/CAD -

Trading at 1.275

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.217-1.213

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28.

Economic release today -

• Canadian trade balance came at $-3.34 billion.

Commentary -                                                                                         

• Canadian dollar remains sell against dollar, weaker oil price is supporting USD against loonie.