Currency snapshot (commodity pairs)

Dollar index trading at 96.96 (-0.25%)

Strength meter (today so far) – Aussie +0.42%, Kiwi +0.84%, Loonie +0.03%

Strength meter (since last week) – Aussie -0.34%, Kiwi +1.06%, Loonie -0.58%

AUD/USD –

Trading at 0.741

Trend meter –

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

Support –

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

Resistance –

• Long term – 0.782, Medium term – 0.78, Short term – 0.755

Economic release today –

• HIA new home sales grew by 0.8 percent in March.

Commentary –

• The Australian dollar rose after NFP report disappointed to the downside with just 138,000.  Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.712

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 continues to be the best performer of the week.

 USD/CAD –

Trading at 1.35

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 (testing)

Resistance –

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

Economic release today –

• Labor productivity grew by 1.4 percent in the first quarter.
• International trade balance came at -$0.37 billion.

Commentary –   

• Loonie is the weakest performer on lower oil price.