Currency snapshot (commodity pairs)

Dollar index trading at 93.97 (-0.45%)

Strength meter (today so far) – Aussie +0.51%, Kiwi +0.55%, Loonie +0.24%

Strength meter (since last week) – Aussie +0.37%, Kiwi +1.13%, Loonie +0.13%

AUD/USD –

Trading at 0.739

Trend meter –

• Long term – Range/Sell, Medium term – Buy, Short term – Range/Buy

Support –

• Long term – 0.7, Medium term – 0.72, Short term – 0.72

Resistance –

• Long term – 0.825, Medium term – 0.79, Short term – 0.76

Economic release today –

• NIL

Commentary –

• Aussie is struggling amid trade uncertainty and a stronger dollar. However, recovered large sections of earlier loss.

NZD/USD -

Trading at 0.679

Trend meter -

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

Support –

• Long term – 0.62, Medium term – 0.65, Short term – 0.67 (testing)

Resistance –

• Long term – 0.735, Medium term – 0.735, Short term – 0.705

Economic release today –

• NIL

Commentary –

• Kiwi has decisively broken support near 0.69 area and likely to go down further. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.312

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range/Buy

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.31

Resistance –

• Long term – 1.35, Medium term – 1.33, Short term – 1.33

Economic release today –

• May trade balance came at $2.77 billion.
• The unemployment rate rose to 6 percent thanks to higher participation.
• IVEY PMI rose to 63.1 in June.

Commentary –                

• Loonie is struggling over trade tensions with the United States despite a weaker dollar. Recovered some of the earlier loss.