Currency snapshot (commodity pairs)

Dollar index trading at 95.74 (+0.27%)

Strength meter (today so far) – Aussie -0.03%, Kiwi +0.06%, Loonie -0.32%

Strength meter (since last week) – Aussie -0.03%, Kiwi +0.06%, Loonie -0.32%

AUD/USD –

Trading at 0.755

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 –

• HIA new home sales declined by 9.7 percent in July.

Commentary –                                                                               

• Aussie is marginally up this week but still struggling to break key resistance. 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 0.723

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 –

• Building permits data for July will be released at 22:45 GMT.

Commentary –

• New Zealand dollar is the best performer of the day.

 USD/CAD –

Trading at 1.302

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 –

• NIL

Commentary –   

• The Canadian dollar is the worst performer of the day on lower oil price.