Dollar index trading at 97.42 (-0.12%)
Strength meter (today so far) – Aussie +0.36%, Kiwi +0.30%, Loonie +0.04%
Strength meter (since last week) – Aussie -0.58%, Kiwi +0.59%, Loonie -0.11%
AUD/USD –
Trading at 0.767
Trend meter –
- Long term – Range, Medium term – Sell, Short term – Range
Support –
- Long term – 0.716, Medium term – 0.735, Short term – 0.746
Resistance –
- Long term – 0.785, Medium term – 0.777, Short term – 0.765 (testing)
Economic release today –
- NIL
Commentary –
- Aussie is still the worst performer of the week. Aussie might decline to 0.72 area once more to test support.
NZD/USD –
Trading at 0.728
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Range
Support –
- Long term – 0.67, Medium term – 0.69, Short term – 0.71
Resistance –
- Long term – 0.76, Medium term – 0.73, Short term – 0.723 (broken)
Economic release today –
- NIL
Commentary –
- Kiwi is still the best performer of the week, as RBNZ statement lacked dovish bias.
USD/CAD –
Trading at 1.322
Trend meter –
- Long term – sell, Medium term – buy, Short term – Range/buy
Support –
- Long term – 1.3, Medium term – 1.3, Short term – 1.32
Resistance –
- Long term – 1.38, Medium term – 1.37, Short term – 1.35
Economic release today –
- Retail sales report for April will be published at 12:30 GMT.
Commentary –
- Loonie’s performance improved despite weaker oil price on stronger retail sales and hawkish rhetoric from Bank of Canada.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest