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Currency snapshot (commodity pairs)

Dollar index trading at 95.05 (+0.04%)

Strength meter (today so far) – Aussie -0.04%, Kiwi -0.44%, Loonie -0.13%

Strength meter (since last week) – Aussie -0.70%, Kiwi -0.97%, Loonie -0.69%

AUD/USD –

Trading at 0.739

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

  • Westpac leading index down 0.2 percent in May.

Commentary –

  • Aussie is the worst performer of the week amid a U.S. China trade war fear. It is selling off from former support turned resistance.

NZD/USD -

Trading at 0.688

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 –

  • GDP report for the first quarter will be released at 22:45 GMT.

Commentary –

  • Kiwi is back testing support near 0.69 area.

 USD/CAD –

Trading at 1.329

Trend meter –

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

Support –

  • Long term – 1.22, Medium term – 1.26, Short term – 1.29

Resistance –

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

Economic release today –

  • NIL

Commentary –

  • Loonie is down this week over trade tensions with the United States amid a stronger dollar.

 

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