Currency snapshot (commodity pairs)

Dollar index trading at 93.54 (+0.27%)

Strength meter (today so far) – Aussie +0.24%, Kiwi +0.30%, Loonie +0.04%

Strength meter (since last week) – Aussie -0.68%, Kiwi -1.09%, Loonie -0.63%   

AUD/USD –

Trading at 0.749

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 –

• Wage price index grew 2.1 percent y/y in the first quarter.

Commentary –

• Aussie has decisively broken the key support around 0.75 area. Gave up earlier gains as the dollar recovers.

NZD/USD -

Trading at 0.688

Trend meter -

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

Support –

• Long term – 0.68, Medium term – 0.69, Short term – 0.69(broken)

Resistance –

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

Economic release today –

• NIL

Commentary –

• Kiwi is once again the worst performer of the week.

 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 – 1.25

Resistance –

• Long term – 1.32, Medium term – 1.3, Short term – 1.29

Economic release today –

• Manufacturing shipments report will be released at 12:30 GMT.

Commentary –                              

• Loonie gave up earlier gains as the dollar recovers. The focus is on trade talks.

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