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Dollar index trading at 96.96 (+0.09%).
Strength meter (today so far) - Aussie -0.18%, Kiwi -0.90%, Loonie -0.64%.
Strength meter (since last week) - Aussie -2.31%, Kiwi -2.52%, Loonie -1.82%.
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
Resistance -
- Long term - 0.87, Medium term - 0.83, Short term - 0.793-0.796, Immediate -0.787
Economic release today -
- HIA new home sales grew 0.6% m/m in April and private sector credit grew at 6.1% from a year ago.
Commentary -
- Aussie selloffs have stabilized as price stands very close to crucial short term support. Selloffs are likely to resume at rallies.
NZD/USD -
Trading at 0.711
Trend meter -
- Long term - Sell, Medium term - Range, Short term - Range/Sell resistance
Support -
- Long term - 0.653, Medium term - 0.719-0.712(broken), Short term - 0.71
Resistance -
- Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.719-0.721
Economic release today -
- ANZ survey showed business confidence waned in May with headline index falling 15 points. Inflation expectations reached record low at 1.6%
Commentary -
- Kiwi selloffs gathered pace once more today making it the worst performer this week. Selling the rallies are recommended. Support area of 0.72-0.712 is broken. 0.70 will act as vital psychological support.
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, Immediate - 1.238-1.236
Resistance -
- Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.28
Economic release today -
- GDP shrank by -0.6%, worse than expected +0.2% growth.
Commentary -
- Crude jump back provided some support to the economy, however worse than expected GDP data spoiled the mood.
