Currency snapshot (commodity pairs)

Dollar index trading at 92.85 (+0.28%)

Strength meter (today so far) – Aussie -0.10%, Kiwi -0.36%, Loonie -0.19%

Strength meter (since last week) – Aussie -0.51%, Kiwi -0.73%, Loonie -0.39%   

AUD/USD –

Trading at 0.75

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 –

• National Banks’ business confidence index rose to 10 I April from 8 in March. Business condition index rose to 21 from 15

Commentary –     

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

NZD/USD -

Trading at 0.70

Trend meter -

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

Support –

• Long term – 0.68, Medium term – 0.69, Short term – 0.7(testing)

Resistance –

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

Economic release today –

• NIL

Commentary –

• Kiwi is testing support around 0.7 area.

 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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