• Currency snapshot (commodity pairs)

    Source: FxWire Pro - Commentary / 16 Jan 2018 08:06:31   Eastern Standard Time

    Dollar index trading at 90.42 (-1.61%)

    Strength meter (today so far) – Aussie -0.13%, Kiwi -0.27%, Loonie -0.01%

    Strength meter (since last week) – Aussie +0.51%, Kiwi +0.39%, Loonie +0.22%

    AUD/USD –

    Trading at 0.795

    Trend meter –

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

    Support –

    • Long term – 0.746, Medium term – 0.75, Short term – 0.765

    Resistance –

    • Long term – 0.825, Medium term – 0.8, Short term – 0.78 (broken)

    Economic release today –

    • New motor vehicle sales rose 4.5 percent in December, up 6.7 percent from a year ago.

    Commentary –

    • Aussie is down today despite on stronger dollar but up for the week.

    NZD/USD -

    Trading at 0.727

    Trend meter –

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

    Support –

    • Long term – 0.66, Medium term – 0.68, Short term – 0.69

    Resistance –

    • Long term – 0.76, Medium term – 0.76, Short term – 0.725 (broken)

    Economic release today –

    • Global dairy auction is scheduled this week.

    Commentary –

    • Kiwi is the up on weaker dollar this week.

     USD/CAD –

    Trading at 1.243

    Trend meter –

    • Long term – sell, Medium term – sell, Short term – Range/Buy

    Support –

    • Long term – 1.2, Medium term – 1.22, Short term – 1.246

    Resistance –

    • Long term – 1.355, Medium term – 1.32, Short term – 1.30

    Economic release today –

    • NIL

    Commentary –

    • Loonie is the worst performer of the week as NAFTA tensions continue.

     

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