Currency snapshot (major pairs)

Dollar index trading at 97.62 (+0.23%)

Strength meter (today so far) – Euro -0.39%, Franc +0.04%, Yen +0.02%, GBP +0.37%

Strength meter (since last week) – Euro +1.68%, Franc +2.16%, Yen +1.99%, GBP +1.10%

EUR/USD –

Trading at 1.11

Trend meter –

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

Support          

• Long term – 1.05, Medium term – 1.07, Short term – 1.09

Resistance –

• Long term – 1.12, Medium term – 1.10 (broken), Short term – 1.10 (broken)

Economic release today –

• NIL

Commentary –

• The euro lost its best performer rank as others outperform euro heading towards the weekend. The euro is likely to remain upbeat.

GBP/USD –

Trading at 1.296

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 –

• Retail sales grew by 4 percent y/y in April, up 4.5 percent excluding fuel.

Commentary –

• The pound has finally broken above 1.30 area. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 112.4

Trend meter –

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

Support –

• Long term – 109, Medium term – 110, Short term – 112

Resistance –

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

Economic release today –

• Industrial production declined by 1.9 percent in March, up 3.5 percent y/y.

Commentary –

• The yen’s performance continues to improve on renewed risk aversion as Washington is in chaos.

USD/CHF –        

Trading at 0.984

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 –

• Franc is a better performer than the euro, the best performer of the week.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14