Currency snapshot (commodity pairs)

Dollar index trading at 95.20 (-0.41%)

Strength meter (today so far) - Aussie +0.88%, Kiwi +0.16%, Loonie +0.58%.

Strength meter (since last week) - Aussie +1.33%, Kiwi +0.57%, Loonie +0.72%.

AUD/USD -

Trading at 0.719

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.65, Short term - 0.685, immediate - 0.695

Resistance -

• Long term - 0.83, Medium term - 0.725, Short term - 0.725

Economic release today -

• Westpac leading economic index dropped -0.3% in August.

Commentary -                                                                               

• Aussie is best performer this week, focus on FOMC tomorrow. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65. In spite of medium term sell call, Aussie might give much larger correction towards 0.735.

NZD/USD -

Trading at 0.635

Trend meter -

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

Support -

• Long term - 0.56, Medium term - 0.60, Short term - 0.615

Resistance -

• Long term - 0.71, Medium term - 0.68, Short term - 0.643-0.65

Economic release today -

• Second quarter GDP to be released at 22:45 GMT.

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 almost flat, focus on FOMC this week and GDP report later today.

USD/CAD -

Trading at 1.316

Trend meter -

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

Support -

• Long term - 1.19, Medium term - 1.26, Short term - 1.29

Resistance -

• Long term - 1.38, Medium term - 1.35, Short term - 1.34

Economic release today -

• NIL

Commentary -                                                                                         

• Loonie gained today as oil price rose sharply.