Currency snapshot (commodity pairs)

Dollar index trading at 92.73 (+0.17%)

Strength meter (today so far) – Aussie +0.30%, Kiwi -0.12%, Loonie +0.63%

Strength meter (since last week) – Aussie +0.57%, Kiwi -0.95%, Loonie +0.67%

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 –

• NIL

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 0.716

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 as RBNZ governor slams higher exchange rate. Active call – Buy Kiwi targeting 0.825.

 USD/CAD –

Trading at 1.24

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 declines to 54.6 in August.

Commentary –

• The loonie is the best performer of the week as oil price recovers and GDP outperforms.

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