Currency snapshot (commodity pairs)

Dollar index trading at 96.1 (+0.12%)

Strength meter (today so far) – Aussie -0.01%, Kiwi +0.01%, Loonie -0.18%

Strength meter (since last week) – Aussie -0.49%, Kiwi +0.17%, Loonie -1.22%

AUD/USD –

Trading at 0.752

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 –

• Retail sales didn’t grow in July.
• Private capital expenditure is down 5.4 percent in the second quarter.

Commentary –                                                                               

• Aussie is testing minor support around 0.75 area. 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 0.724

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 –

• RBC manufacturing PMI will be reported at 13:30 GMT.

Commentary –

• New Zealand dollar is the best performer of the week, marginally up against the dollar.

 USD/CAD –

Trading at 1.314

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 this week on lower oil price.