Currency snapshot (commodity pairs)

Dollar index trading at 95.87 (+0.52%)

Strength meter (today so far) - Aussie -0.04%, Kiwi -0.15%, Loonie -0.31%.

Strength meter (since last week) - Aussie -2.15%, Kiwi -1.71%, Loonie -0.70%.

AUD/USD -

Trading at 0.701

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.68, Short term - 0.70

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.78, Immediate - 0.74

Economic release today -

• Australian GDP grew by just 0.2% q/q in second quarter and 2% y/y.

Commentary -                                                                               

• Aussie has reached second target of 0.7. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65.

NZD/USD -

Trading at 0.634

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.60, Short term - 0.60

Resistance -

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

Economic release today -

• ANZ commodity prices dropped by -5.2% in August.

Commentary -

• Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. Focus is on NFP report on Friday.

USD/CAD -

Trading at 1.329

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.217, Short term - 1.29

Resistance -

• Long term - 1.40(broken), Medium term - 1.35, Short term - 1.35

Economic release today -

• NIL

Commentary                                                                                 

• Loonie is the best performer this week but began souring as oil price dropped sharply.