Currency snapshot (major pairs)

Dollar index trading at 97.05 (-0.08%)

Strength meter (today so far) – Euro +0.25%, Franc +0.20%, Yen -0.35%, GBP -0.28%

Strength meter (since last week) – Euro +0.25%, Franc +0.20%, Yen -0.35%, GBP -0.28%

EUR/USD –

Trading at 1.123

Trend meter –

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

Support          

• Long term – 1.07, Medium term – 1.09, Short term – 1.10

Resistance –

• Long term – 1.16, Medium term – 1.14, Short term – 1.12 (broken)

Economic release today –

• NIL

Commentary –

• The euro started the week on stronger footing as the dollar loses amid turmoil in Washington and slower rate hikes expectations.

GBP/USD –

Trading at 1.299

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 –

• The UK Prime Minister Theresa May is scheduled to speak at 18:00 GMT.

Commentary –

• The pound is on the back foot as the election takes focus and Labor Party covers the gap. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.4

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 –

• NIL

Commentary –

• The yen is the weakest performer of the day as equities continue upward march.

USD/CHF –        

Trading at 0.97

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 up in line with the euro.