Currency snapshot (commodity pairs)

Dollar index trading at 97.53 (-0.02%)

Strength meter (today so far) – Aussie -0.03%, Kiwi +0.19%, Loonie +0.07%

Strength meter (since last week) – Aussie -0.88%, Kiwi +0.26%, Loonie -0.83%

AUD/USD –

Trading at 0.755

Trend meter –

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

Support –

• Long term – 0.716, Medium term – 0.735, Short term – 0.746

Resistance –

• Long term – 0.785, Medium term – 0.777, Short term – 0.765 (testing)

Economic release today –

• NIL

Commentary –

• Aussie is the worst performer of the week. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.726

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 –

• NIL

Commentary –

• Kiwi is still the best performer of the week, as RBNZ statement lacked dovish bias.

 USD/CAD –

Trading at 1.332

Trend meter –

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

Support –

• Long term – 1.3, Medium term – 1.3, Short term – 1.32

Resistance –

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

Economic release today –

• Retail sales report for April will be published at 12:30 GMT.

Commentary –   

• Loonie is weakening as it feels the heat of a weaker oil price.

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