Currency snapshot (commodity pairs)

Dollar index trading at 96.21 (+0.02%)

Strength meter (today so far) – Aussie +0.05%, Kiwi -0.12%, Loonie +0.16%

Strength meter (since last week) – Aussie -1.05%, Kiwi -0.72%, Loonie +0.02%

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 –

• NIL.

Commentary –

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

NZD/USD –

Trading at 0.727

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 –

• ANZ commodity price grew by 2.1 percent in June.

Commentary –

• Kiwi is continuing its testing of key resistance around 0.73 area.

 USD/CAD –

Trading at 1.294

Trend meter –

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

Support –

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

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. It is the only one positive against the dollar this week.

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