Currency snapshot (major pairs)

Dollar index trading at 98.15 (-0.10%).

Strength meter (today so far) - Euro -0.09%, Franc -0.24%, Yen +0.17%, GBP -0.28%

Strength meter (since last week) - Euro -1.73%, Franc -1.77%, Yen -0.83%, GBP -0.52%

EUR/USD -

Trading at 1.077

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.07-1.073

Resistance -

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

Economic release today -

• Greece recorded 1.9% y/y growth in industrial production and -1.9%y/y drop in consumer price index for the month of February and March respectively. Unemployment rates for January stands at 25.7%, marginally lower from previous 25.9%.
• Greece paid back the IMF tranche in full.

Commentary -

• Euro has broken below 1.08 in overnight trade, pair might be looking to test the lower bound of support at 1.07. Dollar remains well bid across board.

GBP/USD -

Trading at 1.483

Trend meter -

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

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

Economic release today -

• UK trade balance deteriorated once again, bringing current account to GDP ratio to record low.
• BOE kept policy on hold.

Commentary -

• Pound traded 1.476 after failed attempt to break the resistance around 1.50, however posed some bounce back after BOE kept rates on hold.

USD/JPY -

Trading at 119.9

Trend meter -

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

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 - 120.3-120.55

Economic release today -

• NIL

Commentary -

• Yen is taking cues from overall dollar strength, however pair is trading in positive intraday today. Bulls have so far failed to clear resistance around 120.5. Volatility remains very low.

USD/CHF -

Trading at 0.969

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.937, Short term - 0.945, Immediate - 0.954-0.95

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.997, Immediate - 0.972-0.975

Economic release today -

• NIL

Commentary -

• Franc is worst performer this week so far. Pair is lacking strong bias, taking cues from dollar strength.
• SNB balance sheet indicates it remains a franc seller in the market.
• Pair is facing resistance around 0.973 as seller still remain in control over the pair.