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Currency snapshot (major pairs)

Dollar index trading at 94.14 (-0.11%)

Strength meter (today so far) – Euro +0.15%, Franc +0.20%, Yen +0.28%, GBP +0.33%

Strength meter (since last week) – Euro +1.69%, Franc +1.31%, Yen +0.82%, GBP -0.69%

EUR/USD –

Trading at 1.164

Trend meter –

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

Support          

  • Long term – 1.11, Medium term – 1.125, Short term – 1.14

Resistance –

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

Economic release today –

  • NIL

Commentary –

  • The euro cleared key resistance around 1.16, further rise likely. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.3

Trend meter –

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

Support –

  • Long term – 1.26, Medium term – 1.275, Short term – 1.293

Resistance –

  • Long term – 1.345, Medium term – 1.305, Short term – 1.305

Economic release today –

  • Public sector net borrowing in June came at £6.278 billion.

Commentary –

  • The pound is the worst performer of the week so far.

USD/JPY –           

Trading at 111.5

Trend meter –

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

Support –

  • Long term – 107, Medium term – 108.4, Short term – 111

Resistance –

  • Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

  • NIL

Commentary –

  • The yen is up on weaker dollar but lacks buying pressure as risk aversion is absent.

USD/CHF –

Trading at 0.95

Trend meter –

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

Support –

  • Long term – 0.90, Medium term – 0.92, Short term – 0.95 (testing)

Resistance –

  • Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

  • NIL

Commentary –

  • Franc is up in line with the euro this week.

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