Currency snapshot (commodity pairs)

Dollar index trading at 93.7 (+0.28%)

Strength meter (today so far) – Aussie -0.39%, Kiwi +0.09%, Loonie -0.19%

Strength meter (since last week) – Aussie +0.32%, Kiwi +0.73%, Loonie -0.50%

AUD/USD –

Trading at 0.764

Trend meter –

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

Support –

• Long term – 0.72, Medium term – 0.75, Short term – 0.75

Resistance –

• Long term – 0.825, Medium term – 0.8, Short term – 0.77 (testing)

Economic release today –

• NIL

Commentary –                                                                               

• The 0.75 area break is turning out to be a false breakout. Aussie recovered from earlier loss as the dollar declines from key resistance but gave up some of the gains.

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 – 0.69

Resistance –

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

Economic release today –

• NIL

Commentary –

• Kiwi is up on a weaker dollar as it finds support near 0.69 area.

 USD/CAD –

Trading at 1.296

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 – 1.30

Economic release today –

• Housing starts hit 196,000 in May.
• May unemployment rate at 5.8 percent. Employment down by 7,500.

Commentary –

• Loonie is the worst performer this week so far. The focus is on trade talks.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest