Currency snapshot (commodity pairs)

Dollar index trading at 99.42 (+0.26%)

Strength meter (today so far) – Aussie -0.52%, Kiwi -0.42%, Loonie +0.13%

Strength meter (since last week) – Aussie -1.75%, Kiwi +0.45%, Loonie -0.18%

AUD/USD –

Trading at 0.735

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.755

Economic release today –

• Retail sales declined by 0.1 percent in March.

Commentary –

• Aussie is down further on weak retail sales. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.689

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.67, Short term – 0.67

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.723

Economic release today –

• Electronic card retail sales report will be released at 22:45 GMT.

Commentary –

• Kiwi is the best performer of the week so far; the focus is on RBNZ interest rate decision later in the week.

 USD/CAD –

Trading at 1.367

Trend meter –

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

Support –

• Long term – 1.32, Medium term – 1.33, Short term – 1.35

Resistance –

• Long term – 1.38, Medium term – 1.38, Short term – 1.38

Economic release today –

• Building permits report for March will be published at 12:30 GMT.

Commentary –   

• Loonie recovered despite strong dollar on oil price rebound.