Currency snapshot (commodity pairs)

Dollar index trading at 97.72 (+0.33%)

Strength meter (today so far) – Aussie +0.02%, Kiwi -0.29%, Loonie -0.09%

Strength meter (since last week) – Aussie +0.70%, Kiwi +0.95%, Loonie +0.68%

AUD/USD –

Trading at 0.743

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 –

• Consumer inflation expectations came at 4 percent in May.
• The unemployment rate declined to 5.7 percent as 37.400 jobs added in April.

Commentary –

• The Australian dollar is continuing its range trade as the weak dollar provides support but commodities drag. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.692

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 –

• NIL

Commentary –

• Kiwi is the best performer of the week.

 USD/CAD –

Trading at 1.361

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 –

• NIL

Commentary –   

• Loonie is up this week on higher oil price.