Currency snapshot (commodity pairs)

Dollar index trading at 94.84 (+0.95%)

Strength meter (today so far) - Aussie -0.34%, Kiwi -0.77%, Loonie -0.11%.

Strength meter (since last week) - Aussie -3.19%, Kiwi -3.91%, Loonie -1.14%.

AUD/USD -

Trading at 0.707

Trend meter -

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

Support -

• Long term - 0.60, Medium term - 0.70, Short term - 0.70

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.78, Immediate - 0.74

Economic release today -

• Construction work done rose by 1.6% in second quarter

Commentary -                                                                               

• Slowdown in Chinese economy continue to push Aussie lower. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65. Closing in on second target.

NZD/USD -

Trading at 0.642

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 in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ.

USD/CAD -

Trading at 1.333

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 - 1.40(broken), Medium term - 1.35, Short term - 1.35

Economic release today -

• NIL

Commentary -                                                                                         

• Loonie has broken recent congestion to the upside, over weaker oil price. Next target is 1.38