Currency snapshot (commodity pairs)

Dollar index trading at 95.39 (-0.77%)

Strength meter (today so far) - Aussie -0.22%, Kiwi +0.40%, Loonie +0.16%.

Strength meter (since last week) - Aussie +0.16%, Kiwi +1.02%, Loonie +0.87%.

AUD/USD -

Trading at 0.703

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.65, Short term - 0.685, immediate - 0.695

Resistance -

• Long term - 0.83, Medium term - 0.725, Short term - 0.725

Economic release today -

• HIA new home sales rose by 2.3% in August

Commentary -                                                                               

• Aussie is the worst performer today, driven by growth fear in China. Sell Aussie @ 0.76 with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65.

NZD/USD -

Trading at 0.644

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.60, Short term - 0.615

Resistance -

• Long term - 0.71, Medium term - 0.68, Short term - 0.643-0.65

Economic release today -

• ANZ commodity price index rose by 5.5%.

Commentary -

• Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. Kiwi is best performer today gaining over higher commodity prices.

USD/CAD -

Trading at 1.321

Trend meter -

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

Support -

• Long term - 1.19, Medium term - 1.26, Short term - 1.29, immediate -1.32

Resistance -

• Long term - 1.38, Medium term - 1.35, Short term - 1.35

Economic release today -

• NIL

Commentary -                                                                                         

• Loonie is trading at key support, gained over weaker non-farm while lower oil price is creating headwinds.