Currency snapshot (commodity pairs)

Dollar index trading at 93.45 (+0.15%)

Strength meter (today so far) – Aussie -0.10%, Kiwi -0.23%, Loonie -0.43%

Strength meter (since last week) – Aussie -0.10%, Kiwi -0.23%, Loonie -0.43%

AUD/USD –

Trading at 0.797

Trend meter –

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

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 (testing)

Economic release today –

• New home sales are down 6.9 percent in May. Private sector credit is up 0.6 percent in June, up 5.4 percent from a year ago.

Commentary –

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

NZD/USD –

Trading at 0.748

Trend meter –

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

Support –

• Long term – 0.69, Medium term – 0.71, Short term – 0.73

Resistance –

• Long term – 0.76, Medium term – 0.76, Short term – 0.75 (testing)

Economic release today –

• ANZ business confidence declined to 19.4 percent in July, down from 24.8 percent in June. ANZ activity outlook declined to 40.3 percent in July, down from 42.8 percent in June.

Commentary –

• Kiwi has cleared key resistance around 0.73 area. Active call – Buy Kiwi targeting 0.825

 USD/CAD –

Trading at 1.247

Trend meter –

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

Support –

• Long term – 1.22, Medium term – 1.235, Short term – 1.235

Resistance –

• Long term – 1.32, Medium term – 1.295, Short term – 1.28

Economic release today –

• Industrial and raw material product price report for June will be published at 12:30 GMT.

Commentary –

• After weeks of outperformance, the loonie is the worst performer of the day on profit bookings.

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