Currency snapshot (commodity pairs)

Dollar index trading at 95.05 (+0.12%)

Strength meter (today so far) – Aussie -0.76%, Kiwi -0.60%, Loonie -0.27%

Strength meter (since last week) – Aussie +0.57%, Kiwi +1.07%, Loonie +0.15%

AUD/USD –

Trading at 0.759

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.765

Economic release today –

• Investment lending for homes grew by 0.5 percent.
• Home loans declined by 4.2 percent in July.

Commentary –                                                                               

• The Australian dollar scaled back large portions of the gains as the dollar bounced back. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82

NZD/USD –

Trading at 0.736

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• NIL

Commentary –

• The kiwi is back testing the support around former resistance. We expect kiwi to rise towards 0.81 area.

 USD/CAD –

Trading at 1.297

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.25

Resistance –

• Long term – 1.34, Medium term – 1.325, Short term – 1.325

Economic release today –

• Unemployment report will be released at 12:30 GMT.

Commentary –   

• The Canadian dollar remains the weakest performer of the week.