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 - EconoTimes)
Dollar index trading at 95.96 (-0.17%)
Strength meter (today so far) - Aussie +1.10%, Kiwi +1.24%, Loonie +0.74%.
Strength meter (since last week) - Aussie +1.72%, Kiwi +1.07%, Loonie +0.62%.
AUD/USD
Trading at 0.703
Trend meter
- Long term - Sell, Medium term - Range, Short term - Range/Sell
Support
- Long term - 0.60, Medium term - 0.65, Short term - 0.685
Resistance
- Long term - 0.83, Medium term - 0.725, Short term - 0.705
Economic release today -
- National Australia banks' business confidence dropped to 1 from 4 prior, while business conditions improved to 11 in August from 6.
Commentary
- Aussie is the best performer this week, but further decline likely. Active call - Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70, 0.685 and 0.65.
NZD/USD
Trading at 0.635
Trend meter
- Long term - Sell, Medium term - Range/sell, Short term - Range/Sell
Support
- Long term - 0.56, Medium term - 0.60, Short term - 0.615
Resistance
- Long term - 0.71, Medium term - 0.68, Short term - 0.643-0.65
Economic release today
- NIL
Commentary
- Kiwi in for its next target around 0.56 against Dollar, with slowdown in China and further loosening of policy from RBNZ. Kiwi recovered as commodities have taken sharp turn today.
USD/CAD
Trading at 1.319
Trend meter
- Long term - Buy, Medium term - Range, Short term - Range/Buy
Support
- Long term - 1.19, Medium term - 1.26, Short term - 1.29
Resistance
- Long term - 1.38, Medium term - 1.35, Short term - 1.34
Economic release today
- NIL
Commentary
- Loonie gained grounds as oil price recovered, wiping out yesterday's entire loss.
