2017.03.0207:13:00UTC+00Currency Snapshot (commodity Pairs)

Dollar index trading at 101.98 (+0.21%)

Strength meter (today so far) – Aussie -0.62%, Kiwi -0.21%, Loonie -0.15%

Strength meter (since last week) – Aussie -0.59%, Kiwi -0.1.36%, Loonie -2.17%

AUD/USD –

Trading at 0.761

Trend meter –

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

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 –

• Building permits rose by 1.8 percent in January, but down 12 percent from a year ago.
• Trade balance came at $1.3 billion.

Commentary –

• Aussie suffered a major blow as the trade balance numbers disappointed.

NZD/USD –

Trading at 0.71

Trend meter –

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

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 remains downbeat in the face of stronger 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 –

• Fourth quarter GDP numbers will be released at 13:30 GMT.

Commentary –   

• Loonie is still the worst performer of the week.