2017.03.2408:14:00UTC+00Currency Snapshot (commodity Pairs)

Dollar index trading at 99.71 (-0.05%)

Strength meter (today so far) – Aussie -0.28%, Kiwi -0.18%, Loonie -0.20%

Strength meter (since last week) – Aussie -0.23%, Kiwi +0.23%, Loonie -0.44%

AUD/USD –

Trading at 0.762

Trend meter –

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

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 –

• Strong dollar and weak commodity prices weigh on the Aussie. Aussie is the worst performer of the week so far. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.701

Trend meter –

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

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 –

• NIL

Commentary –

• Kiwi is the best performer of the week so far but only flat against the dollar

 USD/CAD –

Trading at 1.337

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 –

• Consumer price index rose by 2 percent y/y. Core price is up 1.7 percent y/y.

Commentary –   

• Strong economic performance supports loonie while Oil remains a drag.