Currency snapshot (commodity pairs)

Dollar index trading at 96.26 (+0.34%)

Strength meter (today so far) - Aussie -0.74%, Kiwi -0.65%, Loonie -0.20%.

Strength meter (since last week) - Aussie -1.49%, Kiwi -1.60%, Loonie -0.41%.

AUD/USD -

Trading at 0.707

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 -

• House price index rose by 4.7% in second quarter, up 9.4% from a year ago.

Commentary -                                                                               

• Aussie has formed inverted hammer on Friday and selling off since then. Selloffs likely to continue. 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 0.628

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 -

• 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 this week so far.

USD/CAD -

Trading at 1.327

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 is consolidating against Dollar, in line with oil price.