Currency snapshot (commodity pairs)

Dollar index trading at 98.89 (+0.11%)

Strength meter (today so far) – Aussie -0.24%, Kiwi +0.22%, Loonie -0.19%

Strength meter (since last week) – Aussie -1.24%, Kiwi +0.36%, Loonie -0.91%

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 –

• NIL

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 0.689

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 –

• RBNZ inflation expectations rose by 2.2 percent y/y in Q1.

Commentary –

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

 USD/CAD –

Trading at 1.378

Trend meter –

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

Support –

• Long term – 1.32, Medium term – 1.33 , Short term – 1.35

Resistance –

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

Economic release today –

• Unemployment report will be released at 12:30 GMT
• IVEY PMI will be reported at 14:00 GMT.

Commentary –   

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