Currency snapshot (commodity pairs)

Dollar index trading at 94.16 (+0.17%)

Strength meter (today so far) - Aussie -0.39%, Kiwi -0.18%, Loonie -0.50%.

Strength meter (since last week) - Aussie +52%, Kiwi -1.07%, Loonie +0.14%.

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 comeback from support area, Aussie might test 0.79 resistance area, though overall Aussie is likely to remain depressed against dollar.

NZD/USD -

Trading at 0.69

Trend meter -

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

Support -

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

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.705

Economic release today -

• NIL

Commentary -

• Kiwi remains a sell, as data continues to surprise to downside.

USD/CAD -

Trading at 1.228

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

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28. Immediate - 1.25

Economic release today -

• Retail sales dropped by -0.1% in April and -0.6% excluding Autos.

Commentary -                                                                                         

• Canadian dollar has bounced back from support area and remains sell against dollar. However weak dollar might keep the pair anchored to downside.