Currency snapshot (major pairs)

Dollar index trading at 100.08 (-0.22%)

Strength meter (today so far) – Euro +0.28%, Franc +0.29%, Yen +0.21%, GBP +0.90%

Strength meter (since last week) – Euro +0.61%, Franc +0.31%, Yen -0.28%, GBP +1.20%

EUR/USD –

Trading at 1.068

Trend meter –

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

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 gained some grounds as the dollar is down all over the board.

GBP/USD –

Trading at 1.267

Trend meter –

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

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 the best performer of the week so far on surprise election announcement. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 108.9

Trend meter –

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

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 –

• The yen is the worst performer of the week as it gives up some of the grounds gained last week.

USD/CHF –        

Trading at 1.001

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 Swiss 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