Currency snapshot (commodity pairs)

Dollar index trading at 94.92 (+0.59%)

Strength meter (today so far) – Aussie -0.26%, Kiwi -0.50%, Loonie -0.18%

Strength meter (since last week) – Aussie -0.12%, Kiwi -0.65%, Loonie -0.58%

AUD/USD –

Trading at 0.736

Trend meter –

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

Support –

• Long term – 0.683, Medium term – 0.7, Short term – 0.71

Resistance –

• Long term – 0.782, Medium term – 0.75, Short term – 0.75

Economic release today –

• National Australia Bank’s business confidence declined to 3, while conditions rose to 10 in May.

Commentary –                                                                               

• Aussie is best performing commodity pair this week but down against Dollar.

NZD/USD –

Trading at 0.7

Trend meter –

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

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 –

• Current account for first quarter will be release at 22:45 GMT.

Commentary –

• Kiwi declined amid risk aversion and stronger Dollar.

USD/CAD –

Trading at 1.285

Trend meter –

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

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.25

Resistance –

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

Economic release today –

• NIL

Commentary –                                                                                         

• Loonie is down over weaker oil price.