Currency snapshot (commodity pairs)

Dollar index trading at 91.86 (-0.17%)

Strength meter (today so far) – Aussie +0.41%, Kiwi +0.52%, Loonie +0.03%

Strength meter (since last week) – Aussie +0.05%, Kiwi +0.14%, Loonie -0.70%

AUD/USD –

Trading at 0.8

Trend meter –

• Long-term – Range/Buy, Medium term – Buy, Short-term – Range/Buy

Support –

• Long-term – 0.746, Medium term – 0.765, Short term – 0.77

Resistance –

• Long-term – 0.825, Medium term – 0.825, Short term – 0.8 (testing)

Economic release today –

• House price index is up 1.9 percent q/q in the second quarter, up 10.9 percent from a year ago.

Commentary –

• Aussie is enjoying a major breakout, likely to rise towards 0.82 against the dollar. Marginally higher this week.

NZD/USD –

Trading at 0.73

Trend meter –

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

Support –

• Long-term – 0.69, Medium term – 0.71, Short term – 0.71

Resistance –

• Long-term – 0.76, Medium term – 0.76, Short term – 0.75

Economic release today –

• Second quarter current account balance data will be published at 22:45 GMT.
• The global dairy auction is scheduled today.

Commentary –

• Kiwi remains downbeat over RBNZ’s verbal stance against the kiwi. Active call – Buy Kiwi targeting 0.825.

 USD/CAD –

Trading at 1.228

Trend meter –

• Long-term – sell, Medium term – sell, Short-term – Range/sell

Support –

• Long-term – 1.2, Medium term – 1.2, Short term – 1.2

Resistance –

• Long-term – 1.27, Medium term – 1.235, Short term – 1.235

Economic release today –

• July manufacturing shipments data will be published at 12:30 GMT.

Commentary –

• The loonie is the worst performer of the week.

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