Currency snapshot (major pairs)

Dollar index trading at 94.78 (-0.12%)

Strength meter (today so far) – Euro +0.16%, Franc -0.02%, Yen -0.08%, GBP +0.33%

Strength meter (since last week) – Euro +0.41%, Franc -0.27%, Yen +0.54%, GBP +0.11%

EUR/USD –

Trading at 1.122

Trend meter –

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

Support

• Long term – 1.08, Medium term – 1.10, Short term – 1.10  

Resistance –

• Long term – 1.2, Medium term – 1.16, Short term – 1.145

Economic release today –

• NIL

Commentary –

• Euro is down to 1.12 handle heading into FOMC today.

GBP/USD –

Trading at 1.416

Trend meter –

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

Support –

• Long term – 1.4, Medium term – 1.4, Short term – 1.427 

Resistance –

• Long term – 1.49, Medium term – 1.47, Short term – 1.47

Economic release today –

• Unemployment rate declined to 5 percent and earnings rose by 2.3% excluding bonus and 2% including it.

Commentary –

• Pound is under heavy swings amid Brexit fear.

USD/JPY –                      

Trading at 106.1

Trend meter –

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

Support –

• Long term – 98.5, Medium term – 102.8, Short term – 105

Resistance –

• Long term – 121, Medium term – 115, Short term – 111.2

Economic release today –

• NIL

Commentary –

• Yen is flat today, focus on BOJ tomorrow. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5 First three target reached, new target 90 added.

USD/CHF –                                                                                         

Trading at 0.964

Trend meter –

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

Support –

• Long term – 0.905, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 1

Economic release today –

• NIL

Commentary –

• Franc is relatively better performer over its safe haven appeal. We expect Franc to strengthen against Dollar to as high as 0.9 area in the medium term.