Currency snapshot (commodity pairs)

Dollar index trading at 94.16 (-1.02%).

Strength meter (today so far) - Aussie +0.96%, Kiwi +0.25%, Loonie +0.60%.

Strength meter (since last week) - Aussie +2.05%, Kiwi -0.19%, Loonie +1.47%.

AUD/USD -

Trading at 0.80

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range/Buy Support

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.79-0.80

Economic release today -

• New home sales rose 4.4% in March
• Retail sales grew only 0.3% m/m in March.

Commentary -                                                                               

• Aussie bulls are back testing the resistance area around 0.80, a breakout seem very much likely, however this week's NFP remain in focus before any breakout. Price would push towards next set of resistance around 0.83 if breakout occurs.

NZD/USD -

Trading at 0.751

Trend meter -

• Long term - Sell, Medium term - Buy/Range, Short term - Range/Sell resistance

Support -

• Long term - 0.653, Medium term - 0.719-0.712, Short term - 0.738-0.736, Immediate - 0.744-0.741

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772

Economic release today -

• NIL

Commentary -

• Kiwi is the worst performing currency as RBNZ dovish bias remain in focus..

USD/CAD -

Trading at 1.198

Trend meter -

• Long term - Buy, Medium term - Range/Sell, Short term - Range/Sell

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.205-1.20(broken)

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.235-1.241, Immediate - 1.225-1.228

Economic release today -

• IVEY PMI rose to 58.2 in April, signaling end of slump.

Commentary -

• Loonie gained further as oil prices broke to new highs, however loonie bulls should remain cautious as prices are now close to key sets of resistance. Partial profit booking is suggested.