Currency snapshot (commodity pairs)

Dollar index trading at 95.02 (+0.25%)

Strength meter (today so far) – Aussie -0.57%, Kiwi -0.26%, Loonie -0.15%

Strength meter (since last week) – Aussie +1.19%, Kiwi +0.29%, Loonie +0.12%

AUD/USD –

Trading at 0.791

Trend meter –

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

Support –

• Long term – 0.746, Medium term – 0.765, Short term – 0.77

Resistance –

• Long term – 0.825, Medium term – 0.825, Short term – 0.8

Economic release today –

• The unemployment rate came at 5.6 percent in June. The participation rate is up to 65 percent. Full-time employment increased by 62,000, while part-time employment declined by 48,000.

Commentary –

• Aussie is enjoying a major breakout, likely to rise towards 0.82 against the dollar.

NZD/USD –

Trading at 0.747

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 – 0.745, Short term – 0.735

Economic release today –

• NIL

Commentary –

• Kiwi is still testing key resistance around 0.73 area. Active call – Buy Kiwi targeting 0.825

 USD/CAD –

Trading at 1.262

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.26 (testing), Short term – 1.26 (testing)

Resistance –

• Long term – 1.34, Medium term – 1.32, Short term – 1.29

Economic release today –

• NIL

Commentary –               

• Loonie is the worst performer of this week. A correction from here is likely.

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