Currency snapshot (commodity pairs)

Dollar index trading at 89.60 (-0.25%)

Strength meter (today so far) – Aussie +0.80%, Kiwi +0.86%, Loonie +0.69%

Strength meter (since last week) – Aussie +1.21%, Kiwi +1.68%, Loonie +1.26%

AUD/USD –

Trading at 0.776

Trend meter –

• Long term – Range/Buy, Medium term – Buy, Short term – Range/Buy

Support –

• Long term – 0.746, Medium term – 0.765, Short term – 0.765

Resistance –

• Long term – 0.85, Medium term – 0.825, Short term – 0.8

Economic release today –

• NIL

Commentary –

• Aussie recovered from earlier loss thanks to a weaker dollar. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.736

Trend meter -

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

Support –

• Long term – 0.68, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.76, Medium term – 0.735, Short term – 0.735

Economic release today –

• First quarter business confidence report will be released at 22:00 GMT.

Commentary –

• Kiwi recovered from earlier loss and the best performer of the week.

 USD/CAD –

Trading at 1.262

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range/Buy

Support –

• Long term – 1.22, Medium term – 1.24, Short term – 1.27

Resistance –

• Long term – 1.32, Medium term – 1.3, Short term – 1.3

Economic release today –

• Housing starts at 225K in March.
• Building permits declined 2.6 percent in February.

Commentary –

• Loonie is up this week on a weaker dollar.

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