Currency snapshot (commodity pairs)

Dollar index trading at 93.63 (-0.11%)

Strength meter (today so far) – Aussie -0.53%, Kiwi -0.81%, Loonie -0.55%

Strength meter (since last week) – Aussie -0.53%, Kiwi -0.81%, Loonie -0.55%

AUD/USD –

Trading at 0.731

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.728, Short term – 0.728

Resistance –

• Long term – 0.82, Medium term – 0.79, Short term – 0.79

Economic release today –

• NIL

Commentary –                                                                               

• Aussie dropped to new 1 month low against Dollar. Active call – Sell Aussie against Dollar @0.75 targeting 0.7 area, with stop loss around 0.785

NZD/USD –

Trading at 0.677

Trend meter –

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

Support –

• Long term – 0.56, Medium term – 0.62, Short term – 0.643

Resistance –

• Long term – 0.77, Medium term – 0.724, Short term – 0.724

Economic release today –

• NIL

Commentary –

• Kiwi is worst performer today as key trend line broke.

USD/CAD –

Trading at 1.298

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.22 , Short term – 1.25

Resistance –

• Long term – 1.334, Medium term – 1.32, Short term – 1.3

Economic release today –

• Housing starts for April came at 191.5K.

Commentary –                                                                                         

• Loonie gave up early gains on weaker Dollar. Loonie is likely to gain further but more likely to consolidate in near term.