Currency snapshot (commodity pairs)

Dollar index trading at 95.76 (+0.05%)

Strength meter (today so far) – Aussie +0.35%, Kiwi +0.67%, Loonie +0.44%

Strength meter (since last week) – Aussie +0.60%, Kiwi +0.70%, Loonie +0.57%

AUD/USD –

Trading at 0.765

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Buy

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 –

• The Australian dollar is struggling to get the breakout component. 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 – Buy, Short term – Buy

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 for August will be released at 22:45 GMT.

Commentary –

• The kiwi is now the best performer of the day. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.309

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 –

• Raw material price dropped by 0.7 percent.
• Industrial product price declined by 0.5 percent.
• GDP grew by 0.5 percent in July.

Commentary –   

• The Canadian dollar’s performance improved on oil price but fails to get further momentum.