Currency snapshot (commodity pairs)

Dollar index trading at 96.47 (-0.00%)

Strength meter (today so far) – Aussie +0.27%, Kiwi +0.29%, Loonie +0.54%

Strength meter (since last week) – Aussie +0.65%, Kiwi +0.22%, Loonie +1.18%

AUD/USD –

Trading at 0.761

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 continuing its test of key resistance around 0.76 area. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.729

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 –

• May trade balance report will be released at 21:45 GMT.

Commentary –

• Kiwi is testing key resistance around 0.73 area.

 USD/CAD –

Trading at 1.311

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 (broken)

Resistance –

• Long term – 1.38, Medium term – 1.37, Short term – 1.35

Economic release today –

• BoC Governor Poloz is scheduled to speak at ECB’s central governor summit.

Commentary –   

• Loonie is the best performer of the week, riding on rate hike speculations and recovering oil price.

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