Currency snapshot (major pairs)

Dollar index trading at 95.34 (-0.27%).

Strength meter (today so far) - Euro +0.08%, Franc -0.07%, Yen -0.02%, GBP +0.79%

Strength meter (since last week) - Euro -2.83%, Franc -2.15%, Yen -1.49%, GBP -0.38%

EUR/USD -

Trading at 1.11

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.106-1.102, Short term - 1.11-1.106

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.15

Economic release today -

• Euro zone manufacturing PMI grew to 52.3 from 52 prior and PMI for services dropped to 53.3 from 54.

Commentary -

• Euro posed comeback post PMI data, trading as high as 1.118 after bouncing back from 1.107. However sellers continue to appear at every rallies pushing pair lower around 1.11.

GBP/USD -

Trading at 1.567

Trend meter -

• Long term - Range, Medium term - Buy Support, Short term - Range/Buy support

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.537-1.534

Resistance -

• Long term - 1.592-1.616, Medium term - 1.58-1.586, Short term - 1.582-1.584

Economic release today -

• Retail sales bounced back sharply in April, growing 1.2% m/m and 4.7% from a year ago.

Commentary -

• Pound is the best performer today, jumped back from trend line as retail sales snapped back sharply.

USD/JPY -                      

Trading at 121.2

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118.5-118

Resistance -

• Long term - 125, Medium term - 122, Short term - 122.

Economic release today -

• NIL

Commentary -

• Yen is moving up gradually taking cues from broad based dollar index.

USD/CHF -

Trading at 0.936

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.917-0.913, Short term - 0.90

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987, Immediate - 0.944-0.947

Economic release today -

• NIL

Commentary -

• Franc is almost flat today against dollar. Franc is to take cue from Dollar strength. Further rise is possible, however buying at dips is recommended as resistance lies ahead.