Currency snapshot (commodity pairs)

Dollar index trading at 97.24 (-0.10%)

Strength meter (today so far) - Aussie +0.03%, Kiwi +0.43%, Loonie +0.19%.

Strength meter (since last week) - Aussie +0.10%, Kiwi +2.06%, Loonie -0.55%.

AUD/USD -

Trading at 0.738

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.71-0.715

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.78, Immediate - 0.75

Economic release today -

• NIL.

Commentary -                                                                               

• Aussie is facing strong selling pressure around 0.745. 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 -

• RBNZ lowered rates by 25 basis points.

Commentary -

• Kiwi is bounced back sharply in spite of a rate cut as Kiwi seem to have oversold. Kiwi is the best performer this week.

USD/CAD -

Trading at 1.302

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.217, Short term - 1.265

Resistance -

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

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian dollar remains sell against dollar, the pair might reach as high as 1.38. Loonie is consolidating around 1.30 area.