Dollar index trading at 94.75 (-0.57%)
Strength meter (today so far) - Aussie +0.85%, Kiwi +0.46%, Loonie +0.47%.
Strength meter (since last week) - Aussie +3.77%, Kiwi +4.10%, Loonie +1.63%.
AUD/USD -
Trading at 0.733
Trend meter -
- Long term - Sell, Medium term - Sell, Short term - Range
Support -
- Long term - 0.60, Medium term - 0.65, Short term - 0.685, immediate - 0.695
Resistance -
- Long term - 0.83, Medium term - 0.785, Short term - 0.725 (broken)
Economic release today -
- NIL
Commentary -
- Aussie rally is moved higher as metal pack advanced after cuts production of Zinc by 500,000 tons.. Active call - Sell Aussie @ 0.76 with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65.
NZD/USD -
Trading at 0.67
Trend meter -
- Long term - Sell, Medium term - Range/sell, Short term - Range
Support -
- Long term - 0.56, Medium term - 0.60, Short term - 0.615
Resistance -
- Long term - 0.71, Medium term - 0.68, Short term - 0.68
Economic release today -
- NIL
Commentary -
- Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. Kiwi is best performer this week as higher milk price is providing support.
USD/CAD -
Trading at 1.294
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range
Support -
- Long term - 1.19, Medium term - 1.26, Short term - 1.29,
Resistance -
- Long term - 1.38, Medium term - 1.35, Short term - 1.35
Economic release today -
- Employment rose by 12,100 but unemployment rate ticked up to 7.1%..
Commentary -
- Loonie is up this week in line with broad based strength in commodity currencies but still the worst performer among the lot. Pair has broken below 1.3 psychological support.