• Currency snapshot (commodity pairs)

    Source: FxWire Pro - Commentary / 16 Aug 2018 12:20:15   America/New_York

    Dollar index trading at 96.47 (-0.25%)

    Strength meter (today so far) – Aussie +0.65%, Kiwi +0.63%, Loonie -0.06%

    Strength meter (since last week) – Aussie -0.14%, Kiwi +0.46%, Loonie -0.07%

    AUD/USD –

    Trading at 0.728

    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 –

    • Consumer inflation expectation rose to 4 percent in August survey from 3.9 percent in July.
    • The unemployment rate declined by 0.1 percent to 5.3 percent despite net job loss of 3,900 as the participation rate declined by 0.2 percent to 65.5 percent.

    Commentary –

    • Aussie remains under pressure from a rising dollar and a weakness in China’s economy but covered loss as the dollar declined.

    NZD/USD -

    Trading at 0.66

    Trend meter -

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

    Support –

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

    Resistance –

    • Long term – 0.725, Medium term – 0.7, Short term – 0.675

    Economic release today –

    • NIL

    Commentary –

    • The New Zealand dollar is the best performer of the week. Active Call - Sell kiwi targeting 0.62 area.

     USD/CAD –

    Trading at 1.315

    Trend meter –

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

    Support –

    • Long term – 1.26, Medium term – 1.29, Short term – 1.3

    Resistance –

    • Long term – 1.35, Medium term – 1.33, Short term – 1.32

    Economic release today –

    • Manufacturing shipments up 1.1 percent in June.

    Commentary –

    • Loonie is upbeat on a stronger economy and NAFTA hope.
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