Currency snapshot (major pairs)

Dollar index trading at 96.51 (+0.58%)

Strength meter (today so far) – Euro +0.51%, Franc +0.42%, Yen -0.98%, GBP +0.69%

Strength meter (since last week) – Euro +1.01%, Franc +0.33%, Yen -1.54%, GBP +3.78%

EUR/USD –

Trading at 1.1

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Sell

Support

• Long term – 1.08, Medium term – 1.10, Short term – 1.10  

Resistance –

• Long term – 1.2, Medium term – 1.145, Short term – 1.125

Economic release today –

• Money supply rose 4.9 percent y/y.
• Private loans rose 1.6 percent y/y in May.

Commentary –

• Euro is facing selling pressure over its association with EU and uncertainties.

GBP/USD –

Trading at 1.319

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Sell

Support –

• Long term – 1.2, Medium term – 1.25, Short term – 1.29 

Resistance –

• Long term – 1.4, Medium term – 1.35, Short term – 1.33

Economic release today –

• NIL

Commentary –

• Pound is curving fresh three decade lows. Worst performer today.

USD/JPY –                      

Trading at 105.7

Trend meter –

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

Support –

• Long term – 98.5, Medium term – 102.8, Short term – 105

Resistance –

• Long term – 121, Medium term – 115, Short term – 111.2

Economic release today –

• NIL

Commentary –

• Yen is the only one positive on Dollar. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5 First three target reached, new target 90 added.

USD/CHF –                                    

Trading at 0.955

Trend meter –

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

Support –

• Long term – 0.905, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 1

Economic release today –

• NIL

Commentary –

• Franc is moving with Euro as SNB intervenes. We expect Franc to strengthen against Dollar to as high as 0.86 area in the medium term.