Currency snapshot (commodity pairs)

Dollar index trading at 97.35 (-0.04%)

Strength meter (today so far) – Aussie +0.00%, Kiwi +0.53%, Loonie -0.17%

Strength meter (since last week) – Aussie +0.00%, Kiwi +0.53%, Loonie -0.17%

AUD/USD –

Trading at 0.744

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 –

• NIL

Commentary –

• Aussie is flat for the day. The declining n iron ore price is weighing on the Aussie. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.708

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 –

• Building permits report for April will be published at 22:45 GMT.

Commentary –

• The kiwi is once again the best performer of the day.

 USD/CAD –

Trading at 1.346

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 struggling along with oil price.