Dollar index trading at 97.15 (+0.56%)
Strength meter (today so far) - Aussie -0.55%, Kiwi -1.00%, Loonie -1.30%.
Strength meter (since last week) - Aussie -0.38%, Kiwi -1.19%, Loonie -1.84%.
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 -
- Westpac consumer sentiment dropped -3.2% in July.
- New motor vehicle sales rose 3.8% in June on monthly basis.
Commentary -
- Aussie is the better performer today, as Chinese economic optimism lifts Aussie. However, bigger trend remains bearish. Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.
NZD/USD -
Trading at 0.663
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 is treading water around crucial support of 0.65. Might test the level, over coming days. Outlook still remains bearish.
USD/CAD -
Trading at 1.29
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.(broken)
Economic release today -
- Bank of Canada (BOC) cut rates by 25 basis points today.
Commentary -
- Canadian dollar remains sell against dollar, the pair might reach as high as 1.38. BOC's rate cut pushed loonie lower against dollar today.
