Dollar index trading at 97.869 (+0.20%)
Strength meter (today so far) - Aussie -0.51%, Kiwi +0.04%, Loonie -0.21%.
Strength meter (since last week) - Aussie -0.77%, Kiwi -2.83%, Loonie -2.62%.
AUD/USD -
Trading at 0.738
Trend meter -
- Long term - Sell, Medium term - Range, Short term - Range/Sell
Support -
- Long term - 0.60, Medium term - 0.71, Short term - 0.71-0.715
Resistance -
- Long term - 0.87, Medium term - 0.83, Short term - 0.793-0.796
Economic release today -
- CB leading indicator rose by 0.2% in May.
Commentary -
- Aussie is relatively better performer this week, as improved economic dockets providing some relief. Sell Aussie with stop around 0.785 and 0.825 to target 0.715, 0.70 and 0.65.
NZD/USD -
Trading at 0.652
Trend meter -
- Long term - Sell, Medium term - Range, Short term - Range/sell resistance
Support -
- Long term - 0.653, Medium term - 0.65, Short term - 0.65
Resistance -
- Long term - 0.883, Medium term - 0.80-0.805, Short term - 0.737-0.74, Immediate - 0.705
Economic release today -
- NIL
Commentary -
- Kiwi is the worst performer this week, weak dairy price and further rate cut bet from RBNZ fuelling the downtrend.
USD/CAD -
Trading at 1.30
Trend meter -
- Long term - Buy, Medium term - Range, Short term - Range/Buy
Support -
- Long term - 1.17, Medium term - 1.1840-1.18, Short term - 1.217-1.213
Resistance -
- Long term - 1.298-1.315, Medium term - 1.30-1.35, Short term - 1.30
Economic release today -
- NIL
Commentary -
- Canadian dollar remains sell against dollar, the pair might reach as high as 1.38. BOC's rate cut keeping dollar bulls energized. Loonie is likely to drop sharply if WTI break below $50 area.
