Currency snapshot (commodity pairs)

Dollar index trading at 97.41 (+0.23%)

Strength meter (today so far) - Aussie -0.48%, Kiwi +0.05%, Loonie -0.58%.

Strength meter (since last week) - Aussie -0.48%, Kiwi +0.05%, Loonie -0.58%.

AUD/USD -

Trading at 0.726

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 -

• TD securities inflation rose by 0.2% in July, up 1.6% from a year ago.
• HIA new home sales rose by 0.5% in June from May.

Commentary -                                                                               

• Aussie is likely to trade with downside bias. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.

NZD/USD -

Trading at 0.659

Trend meter -

• Long term - Sell, Medium term - Range/sell, Short term - Range/sell

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 remains sell, however 0.65 is unlikely to break easily, might even result in large bounce back

USD/CAD -

Trading at 1.316

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 - 1.30-1.31 (broken), Short term - 1.30 (broken)

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian dollar remains sell against dollar, the pair might reach as high as 1.38. lower crude price is creating havoc for Loonie.