Currency snapshot (commodity pairs)

Dollar index trading at 94.81 (+0.32%)

Strength meter (today so far) – Aussie +0.52%, Kiwi +0.08%, Loonie +0.39%

Strength meter (since last week) – Aussie -0.63%, Kiwi -1.92%, Loonie +0.42%

AUD/USD –

Trading at 0.738

Trend meter –

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

Support –

• Long term – 0.7, Medium term – 0.72, Short term – 0.72

Resistance –

• Long term – 0.825, Medium term – 0.79, Short term – 0.76

Economic release today –

• HIA new home sales down 4.4 percent in April.
• Private sector credit up 4.8 percent y/y.

Commentary –

• Aussie is struggling amid trade uncertainty and a stronger dollar.

NZD/USD -

Trading at 0.676

Trend meter -

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

Support –

• Long term – 0.62, Medium term – 0.65, Short term – 0.67 (testing)

Resistance –

• Long term – 0.735, Medium term – 0.735, Short term – 0.705

Economic release today –

• NIL

Commentary –

• Kiwi has decisively broken support near 0.69 area. Active Call - Sell kiwi targeting 0.62 area.

 USD/CAD –

Trading at 1.32

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.29, Short term – 1.31

Resistance –

• Long term – 1.35, Medium term – 1.33, Short term – 1.33

Economic release today –

• NIL

Commentary –

• Loonie is down this week over trade tensions with the United States despite a weaker dollar. The best

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