Currency snapshot (commodity pairs)

Dollar index trading at 92.97 (-0.07%)

Strength meter (today so far) – Aussie +0.06%, Kiwi -0.02%, Loonie -0.10%

Strength meter (since last week) – Aussie -0.25%, Kiwi -1.08%, Loonie -1.14%

AUD/USD –

Trading at 0.796

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 –

• Building permits rose sharply by 10.9 percent in June, down 2.5 percent from a year ago.
• AiG Performance of service index will be updated at 23:30 GMT.

Commentary –                                                                               

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

NZD/USD –

Trading at 0.742

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 –

• NIL.

Commentary –

• Kiwi is down today on the weaker jobs report. Active call – Buy Kiwi targeting 0.825

 USD/CAD –

Trading at 1.256

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 –

• NIL

Commentary –

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

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