Currency snapshot (commodity pairs)

Dollar index trading at 97.21 (+0.03%)

Strength meter (today so far) - Aussie -1.65%, Kiwi -1.17%, Loonie -0.91%.

Strength meter (since last week) - Aussie -1.71%, Kiwi -1.28%, Loonie +0.02%.

AUD/USD -

Trading at 0.729

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 -

• National banks' business confidence dropped 4 from 8, while conditions soured to 6 from 10 in July.

Commentary -                                                                               

• Aussie soured over Chinese Yuan devaluation. Aussie is the worst performer today. 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 0.653

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 is down sharply today over Chinese Yuan devaluation as China remains New Zealand's largest trading partner.

USD/CAD -

Trading at 1.313

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 - 1.32, Medium term - 1.315-1.32, Short term - 1.32

Economic release today -

• Housing starts came at 193,000 in July, compared to 202,300 last month.

Commentary -                                                                                         

• Canadian Dollar bounce back soured over drop in crude price. Active call - Canadian dollar remains sell against dollar, the pair might reach as high as 1.38.