Currency snapshot (major pairs)

Dollar index trading at 100.73 (-0.35%)

Strength meter (today so far) – Euro +0.31%, Franc +0.41%, Yen +0.47%, GBP +0.29%

Strength meter (since last week) – Euro +0.06%, Franc +0.06%, Yen -0.43%, GBP +0.21%

EUR/USD –

Trading at 1.063

Trend meter –

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

Support                      

• Long term – 1.01, Medium term – 1.032, Short term – 1.032

Resistance –

• Long term – 1.11, Medium term – 1.084, Short term – 1.084

Economic release today –

• NIL

Commentary –

• The euro recovered from its perils as the dollar declined.

GBP/USD –

Trading at 1.25

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – range/buy

Support –

• Long term – 1.16, Medium term – 1.2, Short term – 1.2

Resistance –

• Long term – 1.32, Medium term – 1.27, Short term – 1.27

Economic release today –

• NIL

Commentary –

• The pound is still the best performer of the group. We expect the pound to reach parity in the longer run.

USD/JPY –                      

Trading at 113.6

Trend meter –

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

Support –

• Long term – 98, Medium term – 105, Short term – 112

Resistance –

• Long term – 121, Medium term – 120, Short term – 119

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the week so far on fading risk aversion and a stronger dollar.

USD/CHF –                                                                                         

Trading at 1.001

Trend meter –

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

Support –

• Long term – 0.95, Medium term – 0.95, Short term – 0.98

Resistance –

• Long term – 1.08, Medium term – 1.037, Short term – 1.037

Economic release today –

• NIL

Commentary –

• Franc turned positive against the dollar along with the euro.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14