Currency snapshot (commodity pairs)

Dollar index trading at 93.97 (-0.31%)

Strength meter (today so far) – Aussie +0.00%, Kiwi +0.09%, Loonie +0.24%

Strength meter (since last week) – Aussie +0.11%, Kiwi -0.38%, Loonie +0.45%

AUD/USD –

Trading at 0.737

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.728, Short term – 0.728

Resistance –

• Long term – 0.82, Medium term – 0.79, Short term – 0.79

Economic release today –

• Westpac consumer confidence rose 8.5%.
• Investment lending for homes rose 1.5% in March.
• Home loans down -0.9%

Commentary –                                                                               

• Aussie is flat for today, turned green for the week. Active call – Sell Aussie against Dollar @0.75 targeting 0.7 area, with stop loss around 0.785

NZD/USD –

Trading at 0.681

Trend meter –

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

Support –

• Long term – 0.56, Medium term – 0.62, Short term – 0.643

Resistance –

• Long term – 0.77, Medium term – 0.724, Short term – 0.724

Economic release today –

• Business PMI for April will be released at 22:30 GMT.
• Food price index will be released at 22:45 GMT.

Commentary –

• Kiwi is worst performer this week as key trend line broke, but recovered lots of grounds since yesterday.

USD/CAD –

Trading at 1.289

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.22 , Short term – 1.25

Resistance –

• Long term – 1.334, Medium term – 1.32, Short term – 1.3

Economic release today –

• NIL

Commentary –                                                                                         

• Loonie is best performer on higher oil price. Loonie is likely to gain further but more likely to consolidate in near term.