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Dollar index trading at 97.24 (-0.10%)
Strength meter (today so far) - Aussie +0.03%, Kiwi +0.43%, Loonie +0.19%.
Strength meter (since last week) - Aussie +0.10%, Kiwi +2.06%, Loonie -0.55%.
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 - 0.78, Immediate - 0.75
Economic release today -
- NIL.
Commentary -
- Aussie is facing strong selling pressure around 0.745. Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.
NZD/USD -
Trading at 0.665
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 -
- RBNZ lowered rates by 25 basis points.
Commentary -
- Kiwi is bounced back sharply in spite of a rate cut as Kiwi seem to have oversold. Kiwi is the best performer this week.
USD/CAD -
Trading at 1.302
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range/Buy
Support -
- Long term - 1.17, Medium term - 1.217, Short term - 1.265
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. Loonie is consolidating around 1.30 area.
