Currency snapshot (major pairs)

Dollar is in mega rally in March so far and continues its rally against all the majors (EUR, GBP, CHF, and JPY).  This week's performance at a glance in chart and table.

• Euro breaking into lower lows as bonds across Europe breaks into higher highs. Industrial output improved in France in January by 0.4% but deteriorated in Italy by -0.7%. Retail sales increased in Spain by 4.1% in January. Greek CPI continued to fall but at lower rate than previous at -1.9%. Euro is currently trading at 1.075, as sellers continue to emerge at rallies. Immediate Support lies at 1.054 & Resistance 1.087.

• Pound has failed the recovery attempt above 1.511 as sellers continue to provide ample offers. UK retail sales grew at 0.2%. Focus is on Mark Carney speech at 14:35 GMT. Pound is currently trading at 1.507. Immediate Support lies at 1.50 & Resistance 1.529.

• Yen has broken above the resistance but failed to gain momentum as safe haven bids have emerged. Recovery sharpened after failed attempt to break above 122. Machine tools order increased by 28.9% in February. Yen is trading at 121. Immediate Support lies at 119.5 & Resistance 122.

• Franc continues to lose ground and trading almost close to parity. Franc continues to fall for consecutive 8 weeks against dollar. Today's stable unemployment rate at 3.2% failed to impress. Franc is currently trading at 0.9967. Immediate Support lies at 0.954 & Resistance 1.02. Parity level could pose some interim resistance.