Currency snapshot (commodity pairs)

Dollar index trading at 95.13 (-0.30%)

Strength meter (today so far) – Aussie +0.56%, Kiwi +0.61%, Loonie +0.61%

Strength meter (since last week) – Aussie +0.07%, Kiwi -0.16%, Loonie +1.18%

AUD/USD –

Trading at 0.722

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.7, Short term – 0.7

Resistance –

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

Economic release today –

• Private capital expenditure declined by 5.2% in first quarter.

Commentary –                                                                               

• Aussie recovered further ground as Dollar retreated. Active call – Sell Aussie against Dollar @0.75 targeting 0.7 area, with stop loss around 0.785

NZD/USD –

Trading at 0.675

Trend meter –

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

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 relatively weak performer, still in red for the week.

USD/CAD –

Trading at 1.295

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• NIL

Commentary –                                                                                         

• Loonie is best performer this week as BOC kept rates on hold and gave no further hint. Weaker Dollar provided another support.