Currency snapshot (major pairs)

Dollar index trading at 100.33 (-0.21%)

Strength meter (today so far) – Euro +0.15%, Franc +0.02%, Yen +0.19%, GBP +0.21%

Strength meter (since last week) – Euro +0.15%, Franc +0.02%, Yen +0.19%, GBP +0.21%

EUR/USD –

Trading at 1.063

Trend meter –

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

Support          

• Long term – 1.032, Medium term – 1.05, Short term – 1.06

Resistance –

• Long term – 1.09, Medium term – 1.085, Short term – 1.085

Economic release today –

• NIL

Commentary –

• The euro struggling to make gains on a weaker dollar and the French election uncertainties weigh.

GBP/USD –

Trading at 1.254

Trend meter –

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

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 –

• After last week’s strong performance, the pound remains upbeat this week too. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 108.3

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• NIL

Commentary –

• After being the best performer last week on geopolitical tensions, the yen remains upbeat this week too and heading for a test of key resistance around 107 per dollar.

USD/CHF –        

Trading at 1.004

Trend meter –

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

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 –

• The franc is once again moving in line with the euro.  Active call - Franc might decline to 1.08 per dollar. Target extended to 1.14