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Dollar index trading at 95 (+0.20%).
Strength meter (today so far) - Aussie -0.25%, Kiwi -1.51%, Loonie -0.07%.
Strength meter (since last week) - Aussie -0.25%, Kiwi -1.51%, Loonie -0.07%.
AUD/USD -
Trading at 0.79
Trend meter -
- Long term - Sell, Medium term - Sell, Short term - Range
Support -
- Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75
Resistance -
- Long term - 0.87, Medium term - 0.83, Short term - 0.79-0.80
Economic release today -
- Australian banks survey shows business condition deteriorated to 4 from 6 prior and confidence remained at same level 3 for April.
Commentary -
- Aussie struggling to break 0.80 resistance area. China's rate cut by 25 basis points over the weekend failed to provide boost. This brings serious doubts over bulls' ability and strength. Pair might move to test range low around 0.76.
NZD/USD -
Trading at 0.737
Trend meter -
- Long term - Sell, Medium term - Range, Short term - Range/Sell resistance
Support -
- Long term - 0.653, Medium term - 0.719-0.712, Short term - 0.738-0.736, Immediate - 0.744-0.741(broken)
Resistance -
- Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772
Economic release today -
- NIL
Commentary -
- Kiwi broke immediate support around 0.742 area has now moved towards short term support. Bears remain firmly in control over the pair. However some profit booking is recommended at this support area. Can be sold on rallies.
USD/CAD -
Trading at 1.208
Trend meter -
- Long term - Buy, Medium term - Range/Sell, Short term - Range/Sell
Support -
- Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.20-1.196
Resistance -
- Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.235-1.241, Immediate - 1.225-1.228
Economic release today -
- NIL
Commentary -
- As expected pair is consolidating here. Profit booking is recommended. Loonie is at risk over lower oil prices and price is closer to support.
