Currency snapshot (commodity pairs)

Dollar index trading at 95.67 (-0.13%)

Strength meter (today so far) – Aussie +0.24%, Kiwi +0.16%, Loonie -0.27%

Strength meter (since last week) – Aussie +0.24%, Kiwi +0.16%, Loonie -0.27%

AUD/USD –

Trading at 0.718

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.7, Short term – 0.7

Resistance –

• Long term – 0.782, Medium term – 0.74, Short term – 0.732

Economic release today –

• HIA new home sales declined -4.7%.

Commentary –                                                                               

• Aussie is marginally higher on weaker Dollar. Active call – Sell Aussie against Dollar @0.75 targeting 0.7 area, with stop loss around 0.785

NZD/USD –

Trading at 0.67

Trend meter –

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

Support –

• Long term – 0.62, Medium term – 0.63, Short term – 0.656

Resistance –

• Long term – 0.71, Medium term – 0.683, Short term – 0.683

Economic release today –

• NIL

Commentary –

• Kiwi is up in line with Aussie.

USD/CAD –

Trading at 1.305

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.278 , Short term – 1.278

Resistance –

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

Economic release today –

• First quarter current account came at 16.8 billion.
• Industrial product price declined -0.5% in April.
• Raw material price index rose 0.7% in April.

Commentary –                                                                                         

• Loonie is down as lower oil price takes additional toll.