Currency snapshot (commodity pairs)

Dollar index trading at 92.96 (+0.13%)

Strength meter (today so far) – Aussie -0.43%, Kiwi -0.48%, Loonie +0.05%

Strength meter (since last week) – Aussie -0.15%, Kiwi -0.43%, Loonie -0.72%

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 –

• Reserve bank of Australia kept rates unchanged at 150 basis points.

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/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 –

• The global dairy auction is scheduled today.
• The second quarter unemployment report will be released at 21:45 GMT.

Commentary –

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

 USD/CAD –

Trading at 1.251

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 –

• Manufacturing PMI improves to 55.5 in July.

Commentary –

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

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