Currency snapshot (major pairs)

Dollar index trading at 101.54 (+0.16%)

Strength meter (today so far) – Euro -0.28%, Franc -0.47%, Yen +0.23%, GBP -0.27%

Strength meter (since last week) – Euro -0.28%, Franc -0.47%, Yen +0.23%, GBP -0.27%

EUR/USD –

Trading at 1.059

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 – 1.09, Medium term – 1.07, Short term – 1.07

Economic release today –

• Sentix investor confidence improves to 20.7 in March.

Commentary –

• The euro consolidation is likely to continue unless the election uncertainties settle in the United States.

GBP/USD –

Trading at 1.225

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 – 1.25

Economic release today –

• NIL

Commentary –

• The pound is awaiting the first UK budget under Prime Minister May’s government. We expect the pound to reach parity in the longer run.

USD/JPY –                      

Trading at 113.7

Trend meter –

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

Support –

• Long term – 107, Medium term – 109, Short term – 112

Resistance –

• Long term – 121, Medium term – 119, Short term – 115

Economic release today –

• NIL

Commentary –

• The yen is the best performer of the day on risk aversion.

USD/CHF –        

Trading at 1.01

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 is the worst performer of the day.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14