Currency snapshot (commodity pairs)

Dollar index trading at 94.60 (-0.58%)

Strength meter (today so far) – Aussie +0.74%, Kiwi +0.78%, Loonie +0.98%

Strength meter (since last week) – Aussie -0.04%, Kiwi +0.70%, Loonie +0.13%

AUD/USD –

Trading at 0.741

Trend meter –

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

Support –

• Long term – 0.7, Medium term – 0.72, Short term – 0.72

Resistance –

• Long term – 0.825, Medium term – 0.79, Short term – 0.76

Economic release today –

• NIL

Commentary –

• Aussie recovered as Trump drowned dollar with tweets. Still the worst performer of the week.  

NZD/USD -

Trading at 0.68

Trend meter -

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

Support –

• Long term – 0.62, Medium term – 0.65, Short term – 0.67

Resistance –

• Long term – 0.735, Medium term – 0.735, Short term – 0.705

Economic release today –

• Credit card spending rose 5.7 percent y/y in June.

Commentary –

• Kiwi is continuing to test support around 0.67 area. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.313

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.31

Resistance –

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

Economic release today –

• CPI inflation up 2.5 percent y/y in June.

Commentary –

• Loonie is struggling over trade tensions with the United States despite a weaker dollar. Marginally higher this week.