Currency snapshot (major pairs)

Dollar index trading at 97.1 (+0.17%).

Strength meter (today so far) - Euro -0.36%, Franc +0.16%, Yen +0.31%, GBP -0.36%

Strength meter (since last week) - Euro +1.01%, Franc 1.42%, Yen +0.76%, GBP -0.91%

EUR/USD -

Trading at 1.092

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.077-1.075, Immediate - 1.09-1.0875

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.102-1.105

Economic release today -

• Euro zone money supply M3 grew at a slower pace of 4% YoY. Loans to private down by -0.1% in February.
• French GDP grew at 0.2% in fourth quarter, weaker than previous 0.4%.

Commentary -

• Euro traded as high as 1.105 in late Asian session, however again failed to break above the resistance zone. Improved economic dockets from US boosted the strength of dollar in New York session. Euro hit a session low near 1.094.

GBP/USD -

Trading at 1.482

Trend meter -

• Long term - Range/Sell, Medium term - Sell, Short term - Range

Support -

• Long term - 1.425-1.417, Medium term - 1.462-1.455, Short term - 1.475-1.472, Immediate - 1.485-1.482

Resistance -

• Long term - 1.553-1.56, Medium term - 1.516-1.52, Short term - 1.498-1.502

Economic release today -

• Retail sales grew 5.7% YoY in February and 0.7% mom, both much better than expected. Retail sales excluding fuel rose by 5.1% in February YoY.

Commentary -

• Pound is remained very volatile today, tested support around 1.50 after retail sales surprised to the positive side. However it has now fallen back to the support level.

USD/JPY -

Trading at 119.1

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119.5-119.2

Resistance -

• Long term - 125, Medium term - 122, Short term - 122, Immediate - 120.8-121.1, Immediate - 119.5-119.75.

Economic release today -

• CPI along with unemployment rates are scheduled for release at 23:30 GMT followed by retail trade at 23:50 GMT.

Commentary -

• Yen traded as low as 118.3 amid risk aversion and global selloffs in equity, however gave up gains after positive economic release from US strengthened dollar.

USD/CHF -

Trading at 0.959

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.937, Short term - 0.945

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.997, Immediate - 0.964-0.965

Economic release today -

• NIL

Commentary -

• Franc is performing well today, holding gains despite strengthening of dollar in New York Session.