Currency snapshot (major pairs)

Dollar index trading at 97.35 (+0.01%).

Strength meter (today so far) - Euro -0.15%, Franc +0.08%, Yen +0.13%, GBP +0.27%

Strength meter (since last week) - Euro +0.55%, Franc 1.03%, Yen +0.80%, GBP -0.39%

EUR/USD -

Trading at 1.089

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• French consumer confidence rose to 93 from prior 92.
• Italy's industrial orders fell by -3.6% mom. Industrial sales fell by -1.6% mom. Retail sales increased 0.1% mom.

Commentary -

• Euro faced heavy selling pressure after the pair failed to break above the resistance in three attempts. Prices broke below immediate support level and traded near 1.08. However it bounced back after disappointing GDP from US.

GBP/USD -

Trading at 1.491

Trend meter -

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

Support -

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

Resistance -

• Long term - 1.553-1.56, Medium term - 1.516-1.52, Short term - 1.498-1.502, Immediate - 1.49-1.493

Economic release today -

• NIL

Commentary -

• Pound is top performer today, however still down this week. The pair broken below immediate support range and might see further selloff in coming days. Prices intraday remain pretty volatile lacking clear direction. Pair traded as high as 1.492 after bouncing back from just below 1.48.

USD/JPY -

Trading at 119

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 - 118.2-118

Resistance -

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

Economic release today -

• CPI released yesterday fell to zero for the core components excluding sales tax hike. Unemployment rate remained favorable at 3.5%.

Commentary -

• Yen failed to gain as risk aversion faded away. The pair is taking cue from dollar strength or weakness as a whole.

USD/CHF -

Trading at 0.961

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 - 0.972-0.98

Economic release today -

• NIL

Commentary -

• Franc is the best performer this week. Pair traded at high of 0.969 and low of 0.96