Dollar index trading at 96.78 (+1.04%)
Strength meter (today so far) - Aussie -0.38%, Kiwi -0.27%, Loonie -0.74%.
Strength meter (since last week) - Aussie -0.38%, Kiwi -0.27%, Loonie -0.74%.
AUD/USD -
Trading at 0.74
Trend meter -
- Long term - Sell, Medium term - Range, Short term - Range/Sell
Support -
- Long term - 0.60, Medium term - 0.71, Short term - 0.71-0.715
Resistance -
- Long term - 0.87, Medium term - 0.83, Short term - 0.793-0.796
Economic release today -
- NIL
Commentary -
- Aussie is facing headwinds from slowdown in China. Chinese imports dropped -6.1% in June from a year ago. Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.
NZD/USD -
Trading at 0.67
Trend meter -
- Long term - Sell, Medium term - Range, Short term - Range/sell resistance
Support -
- Long term - 0.653, Medium term - 0.65, Short term - 0.65
Resistance -
- Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.705
Economic release today -
- NIL
Commentary -
- Kiwi trading water above 0.65 support, might gain against Aussie. RBNZ targeted 0.65 area.
USD/CAD -
Trading at 1.275
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range/Buy
Support -
- Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.217-1.213
Resistance -
- Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28.
Economic release today -
- NIL
Commentary -
- Canadian dollar remains sell against dollar, the pair might reach as high as 1.38, weaker oil price and rate cut possibility from Bank of Canada (BOC) has fueling upside for the pair.
