Currency snapshot (commodity pairs)

Dollar index trading at 92.58 (+0.27%)

Strength meter (today so far) – Aussie -0.20%, Kiwi -0.32%, Loonie -0.25%

Strength meter (since last week) – Aussie +0.32%, Kiwi -0.01%, Loonie -0.52%

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 –

• Construction work done in the second quarter rose by 9.3 percent.
• Building permits declined 1.7 percent in July, down 13.9 percent from a year ago.

Commentary –

• Aussie is enjoying a major breakout, likely to rise towards 0.82 against the dollar. It is down as the dollar recovers; further downside correction likely.

NZD/USD –

Trading at 0.728

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

Economic release today –

• NIL

Commentary –

• Kiwi is down since RBNZ’s verbal intervention. Active call – Buy Kiwi targeting 0.825.

 USD/CAD –

Trading at 1.25

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 –

• Second quarter current account report will be published at 12:30 GMT.

Commentary –

• The loonie is down as WTI slips and the dollar recovers.

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