Currency snapshot (commodity pairs)

Dollar index trading at 98.75 (+0.07%)

Strength meter (today so far) – Aussie -0.11%, Kiwi +0.25%, Loonie -0.20%

Strength meter (since last week) – Aussie -0.11%, Kiwi +0.25%, Loonie -0.20%

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 –

• National Australia Bank’s business confidence index improved to 13 and conditions index improved to 14.
• Building permits declined by 13.4 percent in March, down almost 20 percent from a year ago.

Commentary –

• Aussie is marginally down so far, as the French election outcome fails to trigger a risk-on rally. Aussie might decline to 0.72 area once more to test support.

NZD a USD –

Trading at 0.69

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 day so far; the focus is on RBNZ interest rate decision later in the week.

 USD/CAD –

Trading at 1.365

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 –

• Housing starts report will be published at 12:15 GMT.

Commentary –   

• Loonie is the worst performer of the day.