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 - EconoTimes)
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Dollar index trading at 96.02 (-1.45%).
Strength meter (today so far) - Aussie +1.74%, Kiwi +0.84%, Loonie +0.6%.
Strength meter (since last week) - Aussie +1.43%, Kiwi +0.82%, Loonie -0.05%.
AUD/USD -
Trading at 0.775
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 -
- RBA held policy steady.
- Australia's current account balance for first quarter came at -10.7 billion.
Commentary -
- Aussie gained solid today as dollar weakened and RBA kept policy steady. Aussie to move upwards further but likely to face selling pressure near immediate resistance.
NZD/USD -
Trading at 0.716
Trend meter -
- Long term - Sell, Medium term - Range, Short term - Range/Sell resistance
Support -
- Long term - 0.653, Medium term - 0.70, Short term - 0.71-0.708
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 -
- NIL
Commentary -
- Kiwi bounced back amid weaker dollar, however gains would be limited as RBNZ rate decision looms ahead.
USD/CAD -
Trading at 1.245
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 -
- NIL
Commentary -
- Canadian dollar gained but remained the worst performing commodity currency so far this week. Weak economic releases raised possibility of further rate cut.
