Currency snapshot (commodity pairs)

Dollar index trading at 95.18 (-0.19%)

Strength meter (today so far) – Aussie +0.59%, Kiwi +0.27%, Loonie +0.23%

Strength meter (since last week) – Aussie +0.46%, Kiwi +0.16%, Loonie +0.09%

AUD/USD –

Trading at 0.743

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 –

• TD securities inflation up 2 percent y/y.

Commentary –

• Aussie recovered from earlier loss, as the dollar sags.   

NZD/USD -

Trading at 0.675

Trend meter -

• Lthe ong 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 –

• ANZ commodity price index down 3.2 percent y/y.

Commentary –

• Kiwi is continuing to test support around 0.67 area. Remains downbeat on a relatively stronger dollar. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.297

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.3

Resistance –

• Long term – 1.35, Medium term – 1.33, Short term – 1.32

Economic release today –

• July IVEY PMI report will be released at 14:00 GMT.

Commentary –

• Loonie is down today as the dollar weakens.