Dollar index trading at 96.54 (-0.41%)
Strength meter (today so far) – Aussie +0.33%, Kiwi +0.23%, Loonie +0.22%
Strength meter (since last week) – Aussie +1.15%, Kiwi +1.92%, Loonie +0.49%
AUD/USD –
Trading at 0.73
Trend meter –
- Long term – Range/Sell, Medium term – sell, Short term – Range/buy
Support –
- Long term – 0.67, Medium term – 0.67, Short term – 0.69
Resistance –
- Long term – 0.79 Medium term – 0.75, Short term – 0.732
Economic release today –
- NIL
Commentary –
- The Australian dollar is likely to decline further as the emerging market woes and the strong dollar continues to dominate but Aussie rose sharply since last two weeks, on broad-based weakness in USD.
NZD/USD -
Trading at 0.684
Trend meter -
- Long term – Sell, Medium term – Sell, Short term – Range/Buy
Support –
- Long term – 0.62, Medium term – 0.65, Short term – 0.66
Resistance –
- Long term – 0.735, Medium term – 0.72, Short term – 0.69
Economic release today –
- NIL
Commentary –
- The New Zealand dollar remains under pressure as RBNZ vows to keep the rate at this level through 2019 and 2020. The best performer since last two weeks on weak USD. Active Call - Sell kiwi targeting 0.59 area.
USD/CAD –
Trading at 1.314
Trend meter –
- Long term – sell, Medium term – sell, Short term – Range/Buy
Support –
- Long term – 1.26, Medium term – 1.29, Short term – 1.29
Resistance –
- Long term – 1.35, Medium term – 1.33, Short term – 1.32 (broken)
Economic release today –
- NIL
Commentary –
- Loonie remains downbeat as lower oil price weigh. But recovered for the week on broad-based weakness in the USD. Active Call - Sell USD/CAD at 1.314 targeting 1.25 area.