Currency snapshot (commodity pairs)

Dollar index trading at 95.81 (-0.24%)

Strength meter (today so far) – Aussie +0.46%, Kiwi +0.00%, Loonie +0.18%

Strength meter (since last week) – Aussie +1.50%, Kiwi +0.43%, Loonie +1.89%

AUD/USD –

Trading at 0.767

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 –

• HIA new home sales are up 1.1 percent m/m in April.

Commentary –

• Aussie is continuing its test of key resistance around 0.76 area. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.73

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 –

• ANZ business confidence improves to 24.8 in June.
• ANZ activity outlook improves to 42.8 percent.
• Building permits numbers for May will be published at 22:45 GMT.

Commentary –

• Kiwi is testing key resistance around 0.73 area. It is the worst performer of the week.

 USD/CAD –

Trading at 1.301

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 (broken)

Resistance –

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

Economic release today –

• NIL

Commentary –                                                                                        

• Loonie is the best performer of the week, riding on rate hike speculations and recovering oil price.

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