Currency snapshot (commodity pairs)

Dollar index trading at 91.85 (+0.30%)

Strength meter (today so far) – Aussie -0.45%, Kiwi -0.47%, Loonie -0.37%

Strength meter (since last week) – Aussie -0.45%, Kiwi -0.47%, Loonie -0.37%   

AUD/USD –

Trading at 0.754

Trend meter –

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

Support –

• Long term – 0.746, Medium term – 0.75, Short term – 0.75 (testing)

Resistance –

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

Economic release today –

• TD securities inflation at 2 percent y/y in April. HIA new home sales index down 2 percent in March. Credit to Private sector rose 0.5 percent in March, up 5.1 percent from a year ago.

Commentary –

• Aussie testing the key trend line support. Active call - Buy targeting 0.87

NZD/USD -

Trading at 0.704

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(testing)

Resistance –

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

Economic release today –

• March building permits report will be released at 22:45 GMT.

Commentary –

• Kiwi is the worst .performer of the day as it continues to decline after it got rejected at key resistance once more.

 USD/CAD –

Trading at 1.287

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• NIL

Commentary –                                  

• Loonie is down as the dollar recovers.

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