Currency snapshot (commodity pairs)

Dollar index trading at 96.24 (+0.05%)

Strength meter (today so far) – Aussie -0.76%, Kiwi -0.08%, Loonie +0.13%

Strength meter (since last week) – Aussie -1.00%, Kiwi -0.61%, Loonie -0.23%

AUD/USD –

Trading at 0.76

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 –

• Retail sales grew by 0.6 percent in May.
• RBA kept monetary policy unchanged with interest rates at 1.5 percent.

Commentary –        

• Aussie is down today as RBA maintained neutral policy outlook. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.728

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 –

• The global dairy auction is scheduled today.

Commentary –

• Kiwi is testing key resistance around 0.73 area.

 USD/CAD –

Trading at 1.297

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 the superb performance last week, the loonie is the best performer of the week.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest