Currency snapshot (commodity pairs)

Dollar index trading at 96.12 (+0.12%)

Strength meter (today so far) - Aussie +0.16%, Kiwi +0.19%, Loonie -0.55%.

Strength meter (since last week) - Aussie +0.16%, Kiwi +0.19%, Loonie -0.55%.

AUD/USD -

Trading at 0.752

Trend meter -

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

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 -

• TD securities inflation grew 1.5% in June from a year ago.
• AIG performance of construction index scheduled at 23:30 GMT.

Commentary -                                                                               

• Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.

NZD/USD -

Trading at 0.67

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 rose against dollar today as dollar was weak across the board.

USD/CAD -

Trading at 1.264

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.

Economic release today -

• IVEY PMI came at 55.9 in June, down from 62.3 in May

Commentary -                                                                                         

• Canadian dollar remains sell against dollar, weaker oil price is supporting USD against loonie.