• Currency snapshot (commodity pairs)

    Source: FxWire Pro - Commentary / 16 Jan 2019 11:35:24   America/New_York

    Dollar index trading at 96.06 (+0.02%)

    Strength meter (today so far) – Aussie -0.33%, Kiwi -0.50%, Loonie +0.06%

    Strength meter (since last week) – Aussie -0.40%, Kiwi -0.50%, Loonie -0.11%

    AUD/USD –

    Trading at 0.718

    Trend meter –

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

    Support –

    • Long term – 0.67, Medium term – 0.69, Short term – 0.7

    Resistance –

    • Long term – 0.79 Medium term – 0.75, Short term – 0.732

    Economic release today –

    • NIL

    Commentary –

    • The Australian is continuing to trade in a tight range. The focus is on Sino-American trade talks.

    NZD/USD -

    Trading at 0.678

    Trend meter -

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

    Support –

    • Long term – 0.62, Medium term – 0.65, Short term – 0.66

    Resistance –

    • Long term – 0.735, Medium term – 0.72, Short term – 0.695

    Economic release today –

    • NIL

    Commentary –

    • The New Zealand dollar is showing signs of weakness as bulls struggle to break resistance around 0.69 area. Active Call - Sell kiwi targeting 0.59 area.

     USD/CAD –

    Trading at 1.325

    Trend meter –

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

    Support –

    • Long term – 1.26, Medium term – 1.29, Short term – 1.315

    Resistance –

    • Long term – 1.365, Medium term – 1.35, Short term – 1.35

    Economic release today –

    • NIL

    Commentary –

    • Loonie is recovering along with the oil price.
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