Currency snapshot (commodity pairs)

Dollar index trading at 97.27 (-0.03%).

Strength meter (today so far) - Aussie -1.17%, Kiwi -1.14%, Loonie -0.38%.

Strength meter (since last week) - Aussie -2.31%, Kiwi -1.96%, Loonie -1.79%.

AUD/USD -

Trading at 0.764

Trend meter -

• Long term - Sell, Medium term - Range, Short term - Range/Sell Resistance

Support -

• Long term - 0.60, Medium term - 0.71, Short term - 0.756-0.75, Immediate - 0.77-0.768

Resistance -

• Long term - 0.87, Medium term - 0.83, Short term - 0.793-0.796, Immediate -0.787

Economic release today -

• Private capital expenditure dropped by -4.4% in first quarter.

Commentary -                                                                               

• Aussie is dropping like stone since break out above failed. Expect further downside. Aussie is very much likely to break into new low.

NZD/USD -

Trading at 0.715

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 - 0.72(broken)

Resistance -

• Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.768-0.772, Immediate - 0.74

Economic release today -

• Building permits to be released at 22:45 GMT.

Commentary -

• Kiwi selloffs gathered pace once more. Selling the rallies are recommended. Support area of 0.72-0.712 is crucial.

USD/CAD -

Trading at 1.25

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Buy Support

Support -

• Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.217

Resistance -

• Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28

Economic release today -

• Current account worsened to -17 billion in first quarter.

Commentary -

• With drop in oil price Canadian dollar is likely to lose further. Target is coming around 1.285-1.29.