Currency snapshot (commodity pairs)

Dollar index trading at 97.02 (+0.25%)

Strength meter (today so far) - Aussie -0.50%, Kiwi +0.03%, Loonie +0.12%.

Strength meter (since last week) - Aussie -0.52%, Kiwi +0.70%, Loonie +0.11%.

AUD/USD 

Trading at 0.733

Trend meter 

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

Support 

• Long term - 0.60, Medium term - 0.71, Short term - 0.71-0.715

Resistance 

• Long term - 0.87, Medium term - 0.83, Short term - 0.78, Immediate - 0.75

Economic release today 

• New motor vehicle sales dropped by -1.3% in July from June.

Commentary                                                      

• Aussie continues to consolidate around 0.74 area as 0.75 marks as key resistance. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.

NZD/USD 

Trading at 0.658

Trend meter -

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

Support

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

Resistance -

• Long term - 0.78, Medium term - 0.75, Short term - 0.70, Immediate - 0.68

Economic release today

• Price rose by 14.8% in global dairy auction.
• Producer price index to be released at 22:45 GMT.

Commentary

• Kiwi is the best performer so far this week as dairy prices rose 14.8% in Auction.

USD/CAD

Trading at 1.308

Trend meter

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

Support -

• Long term - 1.17, Medium term - 1.217, Short term - 1.265

Resistance

• Long term - 1.32, Medium term - 1.315-1.32, Short term - 1.32

Economic release today 

• NIL

Commentary                                                                          

• Canadian Dollar continuing its consolidation below 1.32 today.