Currency snapshot (major pairs)

Dollar index trading at 99.06 (+0.05%)

Strength meter (today so far) – Euro +0.06%, Franc -0.01%, Yen -0.24%, GBP -0.07%

Strength meter (since last week) – Euro +0.06%, Franc -0.01%, Yen -0.24%, GBP -0.07%

EUR/USD –

Trading at 1.09

Trend meter –

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

Support          

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

Resistance –

• Long term – 1.11, Medium term – 1.09, Short term – 1.09

Economic release today –

• NIL.

Commentary –

• The euro is flirting with resistance around 1.09 area.

GBP/USD –

Trading at 1.293

Trend meter –

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

Support –

• Long term – 1.16, Medium term – 1.23, Short term – 1.27

Resistance –

• Long term – 1.32, Medium term – 1.305, Short term – 1.305

Economic release today –

• NIL

Commentary –

• The pound is testing resistance around 1.3 area. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.7

Trend meter –

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

Support –

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

Resistance –

• Long term – 119, Medium term – 115, Short term – 112

Economic release today –

• Nikkei manufacturing PMI marginally declined to 52.7in April.

Commentary –

• The yen is the worst performer of the day after a disastrous performance last week.

USD/CHF –        

Trading at 0.995

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 –

• Real retail sales grew by 2.1 percent y/y in March.

Commentary –

• Franc is marginally down today.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14