Currency snapshot (commodity pairs)

Dollar index trading at 95.73 (+0.17%)

Strength meter (today so far) – Aussie -0.35%, Kiwi -0.42%, Loonie -0.25%

Strength meter (since last week) – Aussie -0.35%, Kiwi -0.42%, Loonie -0.25%

AUD/USD –

Trading at 0.766

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Range

Support –

• Long term – 0.716, Medium term – 0.735, Short term – 0.746

Resistance –

• Long term – 0.785, Medium term – 0.777, Short term – 0.765 (testing)

Economic release today –

• TD Securities inflation declined 2.3 percent y/y in June.
• Building permits declined 5.6 percent in May, down 19.7 percent from a year ago.

Commentary –

• Aussie is down on stronger dollar. Strong iron ore price supporting Aussie. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.729

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Range

Support –

• Long term – 0.67, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.73

Economic release today –

• NZIER business confidence for the second quarter will be released at 22:00 GMT.

Commentary –

• Kiwi is testing key resistance around 0.73 area. It is the worst performer of the week.

 USD/CAD –

Trading at 1.298

Trend meter –

• Long term – sell, Medium term – buy, Short term – Range/buy

Support –

• Long term – 1.3, Medium term – 1.3, Short term – 1.30 (testing)

Resistance –

• Long term – 1.38, Medium term – 1.35, Short term – 1.32

Economic release today –

• NIL

Commentary –

• After a superb performance last week, the loonie is down today on a stronger dollar.

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