2017.05.1506:46:00UTC+00Currency Snapshot (commodity Pairs)

Dollar index trading at 98.90 (-0.31%)

Strength meter (today so far) – Aussie +0.87%, Kiwi +0.82%, Loonie +0.62%

Strength meter (since last week) – Aussie +0.87%, Kiwi +0.82%, Loonie +0.62%

AUD/USD –

Trading at 0.744

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 –

• Home loans declined 0.5 percent in March, while investment lending for homes grew by 0.8 percent.

Commentary –

• The Australian dollar is the best performer of the day as commodities recover. Aussie might decline to 0.72 area once more to test support.

NZD/USD –

Trading at 0.691

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 –

• NIL

Commentary –

• Kiwi is up on weaker dollar and higher commodity prices.

 USD/CAD –

Trading at 1.362

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 –

• NIL

Commentary –   

• Loonie is moving higher as oil price increased over Saudi-Russia agreement.