Currency snapshot (commodity pairs)

Dollar index trading at 95.47 (-0.10%)

Strength meter (today so far) – Aussie +0.13%, Kiwi +0.49%, Loonie -0.08%

Strength meter (since last week) – Aussie -0.68%, Kiwi -0.48%, Loonie -1.03%

AUD/USD –

Trading at 0.748

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 –

• Westpac consumer confidence is up 0.3 percent in September.

Commentary –

• The Australian dollar is down further and broken the key support of 0.75 area. Further downside likely. 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 0.728

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 –

• Business PMI for August will be released at 22:30 GMT, followed by second quarter GDP at 22:45 GMT.

Commentary –

• The kiwi has broken below 0.73 support area. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.317

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 week on weaker oil price.