Currency snapshot (commodity pairs)

Dollar index trading at 93.12 (-1.76%)

Strength meter (today so far) - Aussie -1.26%, Kiwi -2.35%, Loonie -0.13%.

Strength meter (since last week) - Aussie -1.26%, Kiwi -2.35%, Loonie -0.13%.

AUD/USD -

Trading at 0.721

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 dropped sharply today. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65. First target reached today.

NZD/USD -

Trading at 0.652

Trend meter -

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

Support -

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

Resistance -

• Long term - 0.78, Medium term - 0.75, Short term - 0.70, Immediate - 0.68

Economic release today -

• NIL

Commentary -

• Kiwi is the worst performer as massive commodity rout hit global equities and carry trades.

USD/CAD -

Trading at 1.318

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 - 1.32(broken), Medium term - 1.315-1.32(broken), Short term - 1.32(broken)

Economic release today -

• NIL

Commentary -                                                                                         

• Loonie has broken recent congestion to the upside, over weaker oil price. Further rise is likely for the pair.