Currency snapshot (commodity pairs)

Dollar index trading at 93.1 (+0.33%)

Strength meter (today so far) – Aussie -0.46%, Kiwi -0.36%, Loonie -0.38%

Strength meter (since last week) – Aussie -0.81%, Kiwi -1.20%, Loonie -1.62%

AUD/USD –

Trading at 0.793

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 –

• Retail sales grew 0.3 percent in June.

Commentary –

• Aussie is enjoying a major breakout, likely to rise towards 0.82 against the dollar. It is down this week on recovering dollar and profit bookings.

NZD/USD –

Trading at 0.741

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 this week on a stronger dollar and on the weaker jobs report. Active call – Buy Kiwi targeting 0.825

 USD/CAD –

Trading at 1.26

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 –

• The unemployment rate declined to 6.3 percent.
• International trade balance came at -$3.6 billion in June.
• IVEY PMI declines to 52.9 in July.

Commentary –

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

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