Currency snapshot (major pairs)

Dollar index trading at 98.29 (+0.17%).

Strength meter (today so far) - Euro -0.38%, Franc -0.69%, Yen +0.77%, GBP -0.13%

Strength meter (since last week) - Euro -0.38%, Franc -0.69%, Yen +0.77%, GBP -0.13%

EUR/USD -

Trading at 1.089

Trend meter -

• Long term - Buy, Medium term - Range/Buy, Short term - Sell

Support

• Long term - 1.048, Medium term - 1.07, Short term - 1.078

Resistance -

• Long term - 1.18, Medium term - 1.15, Short term - 1.13

Economic release today -

• Euro Zone CPI came at -0.2% y/y for February. Core CPI is up 0.7% compared to 1% in January.

Commentary -

• Euro in steady decline as probability increasing for further ECB actions.

GBP/USD -

Trading at 1.384

Trend meter -

• Long term - Sell, Medium term - Sell, Short term - Range/Sell

Support -

• Long term - 1.35, Medium term - 1.35, Short term - 1.38

Resistance -

• Long term - 1.46, Medium term - 1.44, Short term - 1.427

Economic release today -

• Mortgage approvals rose to record 74,581.
• M4 money supply rose by 0.8% in January from a year ago.

Commentary -

• Pound remains downbeat over Brexit fear.

USD/JPY -                      

Trading at 113.1

Trend meter -

• Long term - Sell, Medium term - Range/ Sell, Short term - Sell

Support -

• Long term - 98.5, Medium term - 108, Short term - 110

Resistance -

• Long term - 121, Medium term - 117, Short term - 115

Economic release today -

• Housing starts rose by 0.2% y/y in January.

Commentary -

• Yen is sharply higher on risk aversion. Active call - Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5

USD/CHF -                                                                                         

Trading at 1.002

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Sell

Support -

• Long term - 0.905, Medium term - 0.945, Short term - 0.98

Resistance -

• Long term - 1.174, Medium term - 1.07, Short term - 1.035

Economic release today -

• KOF leading indicator rose to 102.4 for February.

Commentary -

• Franc is worst performer today due to fear of SNB actions. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.