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.