Currency snapshot (commodity pairs)

Dollar index trading at 91.67 (-0.18%)

Strength meter (today so far) – Aussie +0.71%, Kiwi +0.87%, Loonie +0.42%

Strength meter (since last week) – Aussie +0.78%, Kiwi +1.17%, Loonie -0.40%

AUD/USD –

Trading at 0.806

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 –

• Westpac leading index declined 0.1 percent in August.

Commentary –                                                                               

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

NZD/USD –

Trading at 0.738

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 GDP report will be published at 22:45 GMT.

Commentary –

• Kiwi is sharply higher as poll shows ruling National Party headed for a big win in Saturday’s election. Active call – Buy Kiwi targeting 0.825.

 USD/CAD –

Trading at 1.224

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 –

• NIL

Commentary –

• The loonie is the worst performer of the week.

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