Currency snapshot (commodity pairs)

Dollar index trading at 93.20 (+0.47%)

Strength meter (today so far) – Aussie -1.06%, Kiwi -0.85%, Loonie -0.78%

Strength meter (since last week) – Aussie -1.17%, Kiwi -0.63%, Loonie -1.06%   

AUD/USD –

Trading at 0.44

Trend meter –

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

Support –

• Long term – 0.72, Medium term – 0.75, Short term – 0.75 (broken)

Resistance –

• Long term – 0.825, Medium term – 0.8, Short term – 0.77

Economic release today –

• NIL

Commentary –

• Aussie has decisively broken the key support around 0.75 area.

NZD/USD -

Trading at 0.696

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(broken)

Resistance –

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

Economic release today –

• RBNZ inflation expectation declined to 2 percent in Q1, down from 2.1 percent.

Commentary –

• Kiwi has broken key 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 –

• Housing starts 214,000 in April.

Commentary –

• Loonie is down as the dollar recovers.

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