Currency snapshot (commodity pairs)

Dollar index trading at 96.83 (-0.17%)

Strength meter (today so far) - Aussie -0.31%, Kiwi -0.38%, Loonie -0.78%.

Strength meter (since last week) - Aussie -0.76%, Kiwi +0.49%, Loonie -0.50%.

AUD/USD -

Trading at 0.732

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 leading economic index failed to grow again in July after zero growth in June.

Commentary -                                                                               

• Aussie remains sell due to concern over China. 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 0.656

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 - 0.78, Medium term - 0.75, Short term - 0.70, Immediate - 0.68

Economic release today -

• NIL

Commentary -

• Kiwi is the best performer so far this week as dairy prices rose 14.8% in Auction.

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

Economic release today -

• NIL

Commentary -                                                                                         

• Canadian Dollar is the worst performer today, likely to slide towards 1.38 against Dollar, as oil prices selloff continues.