Currency snapshot (commodity pairs)

Dollar index trading at 96.04 (+0.53%)

Strength meter (today so far) - Aussie -0.36%, Kiwi -0.44%, Loonie -0.84%.

Strength meter (since last week) - Aussie +0.16%, Kiwi -1.17%, Loonie -1.48%.

AUD/USD -

Trading at 0.766

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 -

• Building permits are up 2.4% in May on monthly basis and up 17.6% from a year ago.

Commentary -                                                                               

• Aussie is headed to test the support area, tomorrow's non-farm might prove crucial and might turn out as make or break event.

NZD/USD -

Trading at 0.675

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 -

• NIL

Commentary -

• Kiwi remains sell against dollar, as fundamental outlook remains subdued and RBNZ is expected to reduce rates further.

USD/CAD -

Trading at 1.256

Trend meter -

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

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 (broken)

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian dollar is likely to remain sell against dollar as expectation is building up for further rate cut by BOC amid weakening economic activities.