Currency snapshot (commodity pairs)

Dollar index trading at 93.9 (-0.13%)

Strength meter (today so far) – Aussie +0.92%, Kiwi +0.63%, Loonie +0.23%

Strength meter (since last week) – Aussie +1.06%, Kiwi +0.06%, Loonie +1.14%

AUD/USD –

Trading at 0.744

Trend meter –

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

Support –

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

Resistance –

• Long term – 0.782, Medium term – 0.74, Short term – 0.732

Economic release today –

• RBA kept rates on hold.

Commentary –                                                                               

• Aussie is sharply higher as RBA signaled pause in cuts.

NZD/USD –

Trading at 0.696

Trend meter –

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

Support –

• Long term – 0.62, Medium term – 0.63, Short term – 0.656

Resistance –

• Long term – 0.71, Medium term – 0.683, Short term – 0.683

Economic release today –

• First quarter manufacturing sales will be released at 22:45 GMT.

Commentary –

• Kiwi is worst performer this week as traders wait for RBNZ tomorrow. Active call – Sell kiwi against Dollar @0.68 and at rallies with stop loss at 0.725 are and target at 0.61

USD/CAD –

Trading at 1.278

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.278 , Short term – 1.278

Resistance –

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

Economic release today –

• IVEY PMI will be announced at 14:00 GMT.

Commentary –                                                                                         

• Loonie is best performer this week on rising oil price.