Currency snapshot (commodity pairs)

Dollar index trading at 93.33 (-0.05%).

Strength meter (today so far) - Aussie -0.27%, Kiwi -0.05%, Loonie -0.21%.

Strength meter (since last week) - Aussie +1.68%, Kiwi -0.04%, Loonie +0.54%.

AUD/USD -

Trading at 0.806

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 lost grounds further as dollar selloffs got halted at four month low, however failed to gain back after dollar weakened over weaker than expected industrial production and Michigan consumer sentiment.

NZD/USD -

Trading at 0.748

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 was sold off from falling trend line, however showing some strength. It is advised to book Kiwi based other pair's trade.

USD/CAD -

Trading at 1.20

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 -

• Loonie was pushed back from 1.19 support area once more. Partial profit booking is suggested as downside remains limited at this point. Position can be increased if large sell break out occurs.