Currency snapshot (commodity pairs)

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.