Currency snapshot (commodity pairs)

Dollar index trading at 99.12 (-0.27%)

Strength meter (today so far) – Aussie -0.57%, Kiwi -0.56%, Loonie +0.02%

Strength meter (since last week) – Aussie -1.32%, Kiwi -0.26%, Loonie -0.55%

AUD/USD –

Trading at 0.739

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.74 (broken)

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.76

Economic release today –

• HIA new home sales declined by 1.1 percent in March.
• Trade balance for March came at $3.1 billion.
• AiG performance of construction report will be released at 23:30 GMT.

Commentary –

• As commodities slide, Aussie is the worst performer of the week so far. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.684

Trend meter –

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

Support –

• Long term – 0.66, Medium term – 0.67, Short term – 0.67

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.723

Economic release today –

• NIL

Commentary –

• Kiwi is the best performer of the week but down against the dollar.

 USD/CAD –

Trading at 1.372

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 (broken), Short term – 1.365 (broken)

Economic release today –

• Trade balance for March came at -$0.14 billion.
• BoC governor Poloz is scheduled to speak at 20:25 GMT.

Commentary –   

• Loonie is much better performer considering the weakness in the oil price.