Currency snapshot (commodity pairs)

Dollar index trading at 96.36 (-0.85%)

Strength meter (today so far) - Aussie +0.26%, Kiwi +0.79%, Loonie +0.09%.

Strength meter (since last week) - Aussie +0.26%, Kiwi +0.79%, Loonie +0.09%.

AUD/USD -

Trading at 0.73

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 up marginally today due to global weakness in dollar. Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.

NZD/USD -

Trading at 0.663

Trend meter -

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

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 -

• Though trend remains bearish, long Kiwi, with 0.65 as support in the shorter term.

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 - 1.30-1.305, Short term - 1.30

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian dollar remains sell against dollar, the pair might reach as high as 1.38. However loonie gained some ground against dollar today, in spite of weaker oil price.