Currency snapshot (commodity pairs)

Dollar index trading at 96.13 (+0.36%)

Strength meter (today so far) – Aussie +0.09%, Kiwi +0.07%, Loonie -1.00%

Strength meter (since last week) – Aussie +0.88%, Kiwi -0.17%, Loonie -1.00%

AUD/USD –

Trading at 0.765

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 – 0.765

Economic release today –

• NIL.

Commentary –

• Aussie is the best performer for the week, up today despite strong dollar. 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 –

• NIL.

Commentary –

• Expectations of further easing from RBNZ weighs on the kiwi. However, closing flat for the week.

USD/CAD –

Trading at 1.315

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 – 1.34, Medium term – 1.325, Short term – 1.325

Economic release today –

• Trade balance for June came at -$3.6 billion.
• Net employment declined by 31,200 and unemployment ticked higher by 0.1 percent to 6.9 percent.

Commentary –   

• Canadian dollar is the worst performer of the week as oil price weighs.