Currency snapshot (commodity pairs)

Dollar index trading at 94.52 (-0.52%).

Strength meter (today so far) - Aussie +0.85%, Kiwi +0.32%, Loonie +0.43%.

Strength meter (since last week) - Aussie +0.44%, Kiwi -1.71%, Loonie +0.27%.

AUD/USD -

Trading at 0.796

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 - 0.80-0.805

Economic release today -

• Home loans rose 1.6% in March and Investment lending for homes rose 6.4%.

Commentary -                                                                               

• Aussie gained amid weak dollar. Bulls are looking to test 0.80 area once more.

NZD/USD -

Trading at 0.736

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

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772

Economic release today -

• REINZ house price rose 1.1% m/m in April, much lower than prior 6.7%
• RBNZ will publish financial Stability report around 21:00 GMT.
• RBNZ governor Wheeler would be speaking post publication around 21:00 GMT.

Commentary -

• Kiwi is drifting today, failing to gain amid weaker Dollar. RBNZ Governor Wheeler's speech around 21:00 GMT remains the focus along with release in financial stability report. Price is hovering around support. Governor's speech cold turn out as make or break event.

USD/CAD -

Trading at 1.204

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 -

• Loonie is consolidating close to support area. Today Loonie gained over weaker dollar and rise in crude oil prices. However further rise won't be easy to come by as price remains close to heavy support area.