Currency snapshot (commodity pairs)

Dollar index trading at 96.24 (-0.17%)

Strength meter (today so far) - Aussie -1.27%, Kiwi -1.50%, Loonie -0.31%.

Strength meter (since last week) - Aussie -3.27%, Kiwi -2.39%, Loonie -0.26%.

AUD/USD -

Trading at 0.693

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 - 0.73

Economic release today -

• NIL

Commentary -                                                                               

• Aussie is the worst performer this week, dropped below 0.7 mark, further decline likely. 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 0.63

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 -

• NIL

Commentary -

• Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. Kiwi is the worst performer today.

USD/CAD -

Trading at 1.323

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 -

• Employment rose by 12000. Labor productivity dropped -0.6% in second quarter.
• Unemployment rate rose to 7% in August.
• IVEY PMI rose to 58 from 52.9 prior.

Commentary -                                                                                         

• Loonie is the best performer this week and today as oil price continue to provide support.