2017.05.1108:48:00UTC+00Currency Snapshot (commodity Pairs)

Dollar index trading at 99.83 (+0.20%)

Strength meter (today so far) – Aussie +0.08%, Kiwi +0.13%, Loonie -0.31%

Strength meter (since last week) – Aussie -1.62%, Kiwi -0.32%, Loonie -0.76%

AUD/USD –

Trading at 0.736

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 –

• NIL

Commentary –

• Aussie is making a comeback today as commodity prices improve. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.684

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 –

• Business PMI report will be released at 22:30 GMT

Commentary –

• Kiwi faced sharp selloff as RBNZ monetary statement turns out to be relatively dovish despite no change in rates.

 USD/CAD –

Trading at 1.375

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

Resistance –

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

Economic release today –

• New house price grew 0.2 percent in March, up 3.3 percent from a year ago.

Commentary –   

• Loonie remains weak on lower oil price.