Currency snapshot (commodity pairs)

Dollar index trading at 94.54 (+0.18%)

Strength meter (today so far) – Aussie -0.84%, Kiwi -0.57%, Loonie -0.04%

Strength meter (since last week) – Aussie -0.01%, Kiwi +0.12%, Loonie +0.66%

AUD/USD –

Trading at 0.74

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 –

• Australia’s terms of trade deteriorated in June with export price rising by 1.9 percent and import price rising by 3.2 percent.

Commentary –

• Aussie is the worst performer of the week so far.  

NZD/USD -

Trading at 0.68

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

Resistance –

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

Economic release today –

• NIL

Commentary –

• Kiwi is continuing to test support around 0.67 area. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.305

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 –

• NIL

Commentary –

• Loonie is struggling over trade tensions with the United States despite a weaker dollar. However, it is the best performer of the week so far on NAFTA hope.