Currency snapshot (commodity pairs)

Dollar index trading at 96.11 (+0.05%)

Strength meter (today so far) – Aussie +0.01%, Kiwi -0.50%, Loonie -0.15%

Strength meter (since last week) – Aussie +0.13%, Kiwi -0.01%, Loonie -0.51%

AUD/USD –

Trading at 0.761

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 –

• National Australia Bank’s business confidence improves to 15 in June.
• Business confidence improves to 9.
• Investment lending for homes declined by 1.4 percent, while home loans are up 1 percent.

Commentary –

• Aussie is marginally higher today, the best performer of the week. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.722

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 – 0.73

Economic release today –

• NIL.

Commentary –

• Kiwi is the worst performer of the week as it struggles to break the key resistance around 0.73 area.

 USD/CAD –

Trading at 1.292

Trend meter –

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

Support –

• Long term – 1.3, Medium term – 1.3, Short term – 1.30 (broken)

Resistance –

• Long term – 1.38, Medium term – 1.35, Short term – 1.32

Economic release today –

• NIL

Commentary –

• After the superb performance last two weeks, the loonie is the down on weaker oil price. The focus is o the BoC meeting later in the week.

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