• Currency snapshot (commodity pairs)

    Source: FxWire Pro - Commentary / 23 Oct 2018 10:01:38   America/New_York

    Dollar index trading at 95.89 (-0.12%)

    Strength meter (today so far) – Aussie -0.04%, Kiwi +0.01%, Loonie -0.00%

    Strength meter (since last week) – Aussie -0.58%, Kiwi -0.38%, Loonie -0.09%

    AUD/USD –

    Trading at 0.707

    Trend meter –

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

    Support –

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

    Resistance –

    • Long term – 0.79 Medium term – 0.75, Short term – 0.72

    Economic release today –

    • NIL

    Commentary –

    • The Australian dollar is likely to decline further as the emerging market woes and the strong dollar continues to dominate. Down this week on a strong dollar.

    NZD/USD -

    Trading at 0.655

    Trend meter -

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

    Support –

    • Long term – 0.62, Medium term – 0.65, Short term – 0.65 (testing)

    Resistance –

    • Long term – 0.725, Medium term – 0.7, Short term – 0.675

    Economic release today –

    • NIL

    Commentary –

    • The New Zealand dollar remains under pressure as RBNZ vows to keep the rate at this level through 2019 and 2020. Down this week on a stronger USD. Active Call - Sell kiwi targeting 0.59 area.

     USD/CAD –

    Trading at 1.31

    Trend meter –

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

    Support –

    • Long term – 1.26, Medium term – 1.29, Short term – 1.29 (broken)

    Resistance –

    • Long term – 1.35, Medium term – 1.33, Short term – 1.32

    Economic release today –

    • Wholesale sales down 0.1 percent m/m in August.

    Commentary –

    • Loonie is down this week on broad-based USD strength. Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.
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