Currency snapshot (commodity pairs)

Dollar index trading at 94.65 (-1.00%)

Strength meter (today so far) – Aussie +0.85%, Kiwi +1.02%, Loonie +0.86%

Strength meter (since last week) – Aussie +1.32%, Kiwi +1.48%, Loonie +1.02%

AUD/USD –

Trading at 0.774

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 –

• New motor vehicle sales are down 1.3 percent in July, up 1.6 percent from a year back.

Commentary –

• Australian dollar buoyed by weaker USD. 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 0.729

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 –

• Global dairy auction is scheduled today.
• Producer price index for the second quarter will be released at 22:45 GMT along with employment report.

Commentary –

• New Zealand dollar is again testing key resistance around 0.73 area.

 USD/CAD –

Trading at 1.281

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 –

• Manufacturing shipments for June will be released at 12:30 GMT.

Commentary –   

• The Canadian dollar gained on weaker dollar and stronger oil price.