Currency snapshot (commodity pairs)

Dollar index trading at 101.19 (-0.05%)

Strength meter (today so far) – Aussie +0.09%, Kiwi +0.54%, Loonie +0.04%

Strength meter (since last week) – Aussie +0.09%, Kiwi +0.54%, Loonie +0.04%

AUD/USD –

Trading at 0.749

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Range

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.75

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.78

Economic release today –

• NIL

Commentary –

• Aussie is trying to recover from last week’s loss but declining iron ore prices weigh on Aussie. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.694

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Range

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.733

Economic release today –

• NIL

Commentary –

• Kiwi is the best performer of the day.

 USD/CAD –

Trading at 1.336

Trend meter –

• Long term – sell, Medium term – buy, Short term – Range/buy

Support –

• Long term – 1.28, Medium term – 1.3 , Short term – 1.3

Resistance –

• Long term – 1.38, Medium term – 1.365, Short term – 1.365

Economic release today –

• Unemployment rate in March increases to 6.7 percent as participation rate ticked up by 0.1 percent.

Commentary –   

• The focus for Loonie is on BoC rate decision this week and on oil price.