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 - EconoTimes)
Dollar index trading at 96.05 (-1.18%)
Strength meter (today so far) - Aussie +0.82%, Kiwi +1.27%, Loonie +0.85%.
Strength meter (since last week) - Aussie -1.71%, Kiwi -1.28%, Loonie +0.02%.
AUD/USD -
Trading at 0.737
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 -
- Westpac consumer confidence improved by 7.8% in July.
- Wages rose by 0.6% q/q in second quarter.
Commentary -
- Aussie is sharply up after initial selloffs over second consecutive Chinese devaluation. 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 0.663
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 -
- Business PMI is scheduled for release at 22:30 GMT, followed by food price index at 22:45 GMT.
Commentary -
- Kiwi traded as low as 0.646 amid second consecutive devaluation of Yuan by PBoC, however gained back sharply over weaker Dollar.
USD/CAD -
Trading at 1.299
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 -
- NIL
Commentary -
- Canadian dollar is best performing commodity pair this week as oil showing signs of turn around.. Active call - Canadian dollar remains sell against dollar, the pair might reach as high as 1.38.
