Currency Snapshot (commodity Pairs)

Dollar index trading at 97.27 (-0.03%).

Strength meter (today so far) – Aussie -1.17%, Kiwi -1.14%, Loonie -0.38%.

Strength meter (since last week) – Aussie -2.31%, Kiwi -1.96%, Loonie -1.79%.

AUD/USD –

Trading at 0.764

Trend meter –

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

Support –

  • Long term – 0.60, Medium term – 0.71, Short term – 0.756-0.75, Immediate – 0.77-0.768

Resistance –

  • Long term – 0.87, Medium term – 0.83, Short term – 0.793-0.796, Immediate -0.787

Economic release today –

  • Private capital expenditure dropped by -4.4% in first quarter.

Commentary –                                                                               

  • Aussie is dropping like stone since break out above failed. Expect further downside. Aussie is very much likely to break into new low.

NZD/USD –

Trading at 0.715

Trend meter –

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

Support –

  • Long term – 0.653, Medium term – 0.719-0.712, Short term – 0.72(broken)

Resistance –

  • Long term – 0.883, Medium term – 0.80-0.805, Short term – 0.768-0.772, Immediate – 0.74

Economic release today –

  • Building permits to be released at 22:45 GMT.

Commentary –

  • Kiwi selloffs gathered pace once more. Selling the rallies are recommended. Support area of 0.72-0.712 is crucial.

USD/CAD –

Trading at 1.25

Trend meter –

  • Long term – Buy, Medium term – Range, Short term – Range/Buy Support

Support –

  • Long term – 1.17, Medium term – 1.1840-1.18, Short term – 1.217

Resistance –

  • Long term – 1.298-1.315, Medium term – 1.30-1.35, Short term – 1.28

Economic release today –

  • Current account worsened to -17 billion in first quarter.

Commentary –

  • With drop in oil price Canadian dollar is likely to lose further. Target is coming around 1.285-1.29.

 

 

The material has been provided by InstaForex Company – www.instaforex.com

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