Currency snapshot (commodity pairs)

Dollar index trading at 95.06 (+0.09%)

Strength meter (today so far) - Aussie +0.53%, Kiwi +0.32%, Loonie -0.12%.

Strength meter (since last week) - Aussie +0.53%, Kiwi +0.32%, Loonie -0.12%.

AUD/USD -

Trading at 0.776

Trend meter -

• Long term - Sell, Medium term - Range, 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 - 0.793-0.796

Economic release today -

• NIL

Commentary -                                                                               

• Aussie has bounced back from support area, however faces crucial test this week as FED will be make or break event for Aussie.

NZD/USD -

Trading at 0.7

Trend meter -

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

Support -

• Long term - 0.653, Medium term - 0.65, Short term - 0.7-0.693

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.72

Economic release today -

• NIL

Commentary -

• Kiwi is showing some signs of bounce back from sub 0.7 area. Further rise is possible if FOMC turns dovish this week.

USD/CAD -

Trading at 1.232

Trend meter -

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

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.217-1.213, Immediate - 1.238-1.236 (broken)

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28

Economic release today -

• Manufacturing shipments dropped by -2.1% m/m in April.

Commentary -                                                                                         

• Canadian remains sell against dollar, started the week in weaker footing as oil price slumped today.