Currency snapshot (commodity pairs)

Dollar index trading at 93.59 (-0.02%)

Strength meter (today so far) – Aussie +0.6%, Kiwi +0.62%, Loonie +0.2%

Strength meter (since last week) – Aussie +1.36%, Kiwi +0.96%, Loonie +0.62%

AUD/USD –

Trading at 0.747

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.7, Short term – 0.71

Resistance –

• Long term – 0.782, Medium term – 0.75, Short term – 0.75

Economic release today –

• House price index rose 6.8 percent in first quarter on yearly basis but declined by -0.2 percent on quarterly basis.

Commentary –     

• Risk aversion pushed Aussie above 0.75 handle.

NZD/USD –

Trading at 0.712

Trend meter –

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

Support –

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

Resistance –

• Long term – 0.72, Medium term – 0.72, Short term – 0.72

Economic release today –

• NIL

Commentary –

• Kiwi is looking to test and break 0.72 area.

USD/CAD –

Trading at 1.281

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.25

Resistance –

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

Economic release today –

• NIL

Commentary –        

• Loonie is supported by weaker dollar and stronger oil but worse performing commodity pair this week.