Currency snapshot (commodity pairs)

Dollar index trading at 96.03 (-0.4%)

Strength meter (today so far) – Aussie +0.38%, Kiwi +0.59%, Loonie +0.12%

Strength meter (since last week) – Aussie -0.21%, Kiwi +0.23%, Loonie -0.04%

AUD/USD –

Trading at 0.743

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.75

Economic release today –

• HIA new home sales declined -4.4 percent in May.

Commentary –

• Aussie gained ground sharply on risk affinity and weaker dollar but still in red for the week.

NZD/USD –

Trading at 0.712

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• Building permits for May will be released at 22:45 GMT.

Commentary –

• Kiwi is best performer today and this week.

USD/CAD –

Trading at 1.3

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 gaining ground but only gradually as provide as weaker dollar and stronger oil provide support.