Currency snapshot (commodity pairs)

Dollar index trading at 95.21 (+0.19%)

Strength meter (today so far) - Aussie +0.46%, Kiwi -0.85%, Loonie +0.34%.

Strength meter (since last week) - Aussie +0.73%, Kiwi -0.81%, Loonie -0.65%.

AUD/USD -

Trading at 0.77

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.793-0.796

Economic release today -

• HIA new home sales dropped by -2.3% in May from April.
• Private sector credit grew by 6.2% in May from a year ago.

Commentary -                                                                               

• Aussie held strong around support area, likely to remain range bound until Greek situation settles.

NZD/USD -

Trading at 0.677

Trend meter -

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

Support -

• Long term - 0.653, Medium term - 0.65, Short term - 0.65

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.705

Economic release today -

• ANZ business confidence dropped to negative to -2.3.

Commentary -

• Kiwi remains sell against dollar, as outlook remains subdued and weaker than expected.

USD/CAD -

Trading at 1.245

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.217-1.213

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28. Immediate - 1.25

Economic release today -

• GDP dropped by -0.1% on monthly basis.

Commentary -                                                                                         

• Loonie dropped further against dollar after GDP dropped for consecutive fourth time.