Currency snapshot (commodity pairs)

Dollar index trading at 97.32 (+0.09%)

Strength meter (today so far) – Aussie +0.01%, Kiwi +0.10%, Loonie -0.33%

Strength meter (since last week) – Aussie -0.17%, Kiwi +0.00%, Loonie -0.38%

AUD/USD –

Trading at 0.76

Trend meter –

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

Support –

• Long term – 0.71, Medium term – 0.73, Short term – 0.75

Resistance –

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

Economic release today –

• NIL

Commentary –

• Aussie is marginally down today as weak China property numbers weigh. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.724

Trend meter –

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

Support –

• Long term – 0.67, Medium term – 0.69, Short term – 0.71

Resistance –

• Long term – 0.76, Medium term – 0.73, Short term – 0.723 (broken)

Economic release today –

• A global dairy auction is scheduled this week.

Commentary –

• Kiwi suffered big loss yesterday, flat for the week. The focus is on interest rate decision later in the week.

 USD/CAD –

Trading at 1.326

Trend meter –

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

Support –

• Long term – 1.32, Medium term – 1.32, Short term – 1.32 (testing)

Resistance –

• Long term – 1.38, Medium term – 1.37, Short term – 1.35

Economic release today –

• April wholesale sales report will be released at 12:30 GMT.

Commentary –   

• Loonie is the worst performer of the week on declining oil price.