Currency snapshot (commodity pairs)

Dollar index trading at 95.67 (-0.12%)

Strength meter (today so far) – Aussie +0.37%, Kiwi +0.37%, Loonie +0.09%

Strength meter (since last week) – Aussie +0.91%, Kiwi +0.70%, Loonie +0.46%

AUD/USD –

Trading at 0.762

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 – 0.765

Economic release today –

• Reserve Bank of Australia kept interest rates on hold at 1.5 percent.
• AiG performance of construction index will be updated at 23:30 GMT.

Commentary –

• Aussie moved higher as RBA kept rates steady. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82

NZD/USD –

Trading at 0.734

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 –

• GDT auction is scheduled for today.
• Manufacturing sales report will be announced at 22:45 GMT for the second quarter.

Commentary –

• New Zealand dollar is testing the resistance around 0.73 area.

 USD/CAD –

Trading at 1.292

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 – 1.34, Medium term – 1.325, Short term – 1.325

Economic release today –

• NIL

Commentary –   

• The Canadian dollar is the weakest performer of the week