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Currency snapshot (commodity pairs)

Dollar index trading at 94.05 (+0.49%)

Strength meter (today so far) – Aussie -0.56%, Kiwi -0.71%, Loonie -0.71%

Strength meter (since last week) – Aussie +0.40%, Kiwi -0.26%, Loonie -0.22%  

AUD/USD –

Trading at 0.754

Trend meter –

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

Support –

  • Long term – 0.72, Medium term – 0.75, Short term – 0.75 (re-testing)

Resistance –

  • Long term – 0.825, Medium term – 0.8, Short term – 0.77

Economic release today –

  • NIL

Commentary –

  • The 0.75 area break is turning out to be a false breakout. The best performer of the week so far.

NZD/USD -

Trading at 0.689

Trend meter -

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

Support –

  • Long term – 0.68, Medium term – 0.69, Short term – 0.69(testing)

Resistance –

  • Long term – 0.76, Medium term – 0.735, Short term – 0.735

Economic release today –

  • April trade balance report will be released at

Commentary –

  • Kiwi is once again the worst performer of the week but up against the dollar.

 USD/CAD –

Trading at 1.29

Trend meter –

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

Support –

  • Long term – 1.22, Medium term – 1.24, Short term – 1.25

Resistance –

  • Long term – 1.32, Medium term – 1.3, Short term – 1.29

Economic release today –

  • NIL

Commentary –

  • Loonie is recovering this week. The focus is on trade talks.

 

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