• Currency snapshot (commodity pairs)

    Source: FxWire Pro - Commentary / 20 Jul 2018 09:50:57   America/New_York

    Dollar index trading at 94.60 (-0.58%)

    Strength meter (today so far) – Aussie +0.74%, Kiwi +0.78%, Loonie +0.98%

    Strength meter (since last week) – Aussie -0.04%, Kiwi +0.70%, Loonie +0.13%

    AUD/USD –

    Trading at 0.741

    Trend meter –

    • Long term – Range/Sell, Medium term – Buy, Short term – Range/Buy

    Support –

    • Long term – 0.7, Medium term – 0.72, Short term – 0.72

    Resistance –

    • Long term – 0.825, Medium term – 0.79, Short term – 0.76

    Economic release today –

    • NIL

    Commentary –

    • Aussie recovered as Trump drowned dollar with tweets. Still the worst performer of the week.  

    NZD/USD -

    Trading at 0.68

    Trend meter -

    • Long term – Sell, Medium term – Sell, Short term – Range/Sell

    Support –

    • Long term – 0.62, Medium term – 0.65, Short term – 0.67

    Resistance –

    • Long term – 0.735, Medium term – 0.735, Short term – 0.705

    Economic release today –

    • Credit card spending rose 5.7 percent y/y in June.

    Commentary –

    • Kiwi is continuing to test support around 0.67 area. Active Call - Sell kiwi targeting 0.62 area.

     USD/CAD –

    Trading at 1.313

    Trend meter –

    • Long term – sell, Medium term – sell, Short term – Range/Buy

    Support –

    • Long term – 1.26, Medium term – 1.29, Short term – 1.31

    Resistance –

    • Long term – 1.35, Medium term – 1.33, Short term – 1.33

    Economic release today –

    • CPI inflation up 2.5 percent y/y in June.

    Commentary –

    • Loonie is struggling over trade tensions with the United States despite a weaker dollar. Marginally higher this week.
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