Currency snapshot (commodity pairs)

Dollar index trading at 95.58 (-0.1%)

Strength meter (today so far) – Aussie -0.52%, Kiwi -0.41%, Loonie -0.49%

Strength meter (since last week) – Aussie +0.23%, Kiwi +0.22%, Loonie -0.49%

AUD/USD –

Trading at 0.749

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.75

Economic release today –

• Retail sales rose 0.2 percent In May.
• Trade balance for May came at -$2.22 billion.
• RBA kept rates on hold.

Commentary –

• Aussie declined as commodities pause rally and dollar goes strong. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82

NZD/USD –

Trading at 0.718

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• ANZ commodity prices rose 3.7 percent in June.
• Global dairy auction is scheduled for today.

Commentary –

• Kiwi is testing the area of resistance from around 0.72. Active call – Buy kiwi targeting 0.718 and the stop loss near 0.66

USD/CAD –

Trading at 1.293

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.25

Resistance –

• Long term – 1.334, Medium term – 1.32, Short term – 1.32

Economic release today –

• NIL

Commentary –   

• Loonie is the weakest performer this week.