Currency snapshot (major pairs)

Dollar index trading at 96.7 (-0.60%).

Strength meter (today so far) - Euro +0.74%, Franc +0.23%, Yen +0.36%, GBP +0.61%

Strength meter (since last week) - Euro +1.56%, Franc 1.61%, Yen +0.56%, GBP -0.25%

EUR/USD -

Trading at 1.098

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.077-1.075, Immediate - 1.088-1.0855

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.102-1.105

Economic release today -

• German IFO business climate rose to 107.9 from previous 106.8
• IFO expectations rose to 103.9 from previous 102.5.
• IFO current assessment rose to 112 from previous 111.3.

Commentary -

• Euro rose from around support at 1.09 and tested the resistance above 1.10 after the release of US durable goods order, however failed to break above so far.

GBP/USD -

Trading at 1.492

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.462-1.455, Short term - 1.475-1.472, Immediate - 1.485-1.482

Resistance -

• Long term - 1.553-1.56, Medium term - 1.516-1.52, Short term - 1.498-1.502

Economic release today -

• BBA mortgage application rose to 37.3K from previous 36.5K

Commentary -

• GBP is taking cue from broad-based dollar weakness or strength, however failing to gain much ground while rising.

USD/JPY -

Trading at 119.3

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119.5-119.2

Resistance -

• Long term - 125, Medium term - 122, Short term - 122, Immediate - 120.8-121.1

Economic release today -

• NIL

Commentary -

• Yen is moving with low volatility. Price is trading continuously in the support zone, but has not broken below 119.2 so far.

USD/CHF -

Trading at 0.957

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.937, Short term - 0.945

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.997

Economic release today -

• SNB to release quarterly bulletin at 14:00 GMT.

Commentary -

• Franc has broken below support of 0.96, it might weaken as low as 0.89 should the dollar weaken broad based. Today it tested lows around 0.955