Currency snapshot (commodity pairs)

Dollar index trading at 93.38 (-0.25%).

Strength meter (today so far) - Aussie -0.18%, Kiwi -0.09%, Loonie -0.02%.

Strength meter (since last week) - Aussie +2.11%, Kiwi +0.41%, Loonie +0.94%.

AUD/USD -

Trading at 0.809

Trend meter -

• Long term - Sell, Medium term - Range, Short term - Buy support/buy breakout

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75, Immediate - 0.786-0.784

Resistance -

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

Economic release today -

• NIL

Commentary -                                                                               

• Aussie is consolidating today as commodity block retreat as a whole. Aussie would maintain upward trajectory to test next set of resistance.

NZD/USD -

Trading at 0.752

Trend meter -

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

Support -

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

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772, Immediate - 0.748-0.752

Economic release today -

• NIL

Commentary -

• Kiwi has successfully bounced back from short term support area, however bulls are struggling at falling trend line. Yesterday's better than expected retail sales provided the necessary support. Kiwi has moved to positive territory covering this week's entire loss.

USD/CAD -

Trading at 1.196

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 - 1.19

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 -

• New house price index failed to rise in month of April, remained flat.

Commentary -

• Lower oil price pushed Loonie bulls to retreat in spite of weak dollar today.