Dollar index trading at 97.62 (+0.52%)
Strength meter (today so far) - Aussie +0.21%, Kiwi -0.75%, Loonie -0.11%.
Strength meter (since last week) - Aussie -0.61%, Kiwi -2.89%, Loonie -2.23%.
AUD/USD -
Trading at 0.738
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 -
- Inflation expectations rose to 3.4% in July.
Commentary -
- Aussie is the better performer this week, as improved economic dockets providing some relief. Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.
NZD/USD -
Trading at 0.652
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 -
- Dairy prices dropped by -10.7% in latest auction.
Commentary -
- Kiwi is at crucial support of 0.65. Outlook still remain bearish. Focus is on RBNZ next week.
USD/CAD -
Trading at 1.294
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 - 1.30
Economic release today -
- NIL
Commentary -
- Canadian dollar remains sell against dollar, the pair might reach as high as 1.38. BOC's rate cut keeping dollar bulls energized. Weaker oil price might push loonie even lower.
