Currency snapshot (commodity pairs)

Dollar index trading at 94.60 (+1.27%)

Strength meter (today so far) - Aussie +0.05%, Kiwi +0.91%, Loonie -0.23%.

Strength meter (since last week) - Aussie -1.78%, Kiwi -2.37%, Loonie -1.03%.

AUD/USD 

Trading at 0.721

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 

• CB leading indicator dropped by -0.2% in June.

Commentary                                                                          

• Slowdown in Chinese economy continue to pose headwinds for the currency.. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65. First target reached today.

NZD/USD 

Trading at 0.652

Trend meter 

• Long term - Sell, Medium term - Range/sell, Short term - Range

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 recovered sharply from 0.62 area and trading above 0.65 area again. Kiwi remains best performer today.

USD/CAD 

Trading at 1.332

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(broken), Medium term - 1.315-1.32(broken), Short term - 1.32(broken)

Economic release today 

• NIL

Commentary                                                            

• Loonie has broken recent congestion to the upside, over weaker oil price and extended gains further today. Next target 1.38 area.