Currency snapshot (major pairs)

Dollar index trading at 99.46 (+0.12%).

Strength meter (today so far) - Euro -0.26%, Franc +0.01%, Yen -0.02%, GBP +0.03%

Strength meter (since last week) - Euro -0.26%, Franc +0.01%, Yen -0.02%, GBP +0.03%

EUR/USD -

Trading at 1.057

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.048-1.036, Short term - 1.048-1.036

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.07-1.074

Economic release today -

• Portugal's CPI rose 1.9% m/m in March and 0.3% y/y.

Commentary -

• Euro is the worst performer today, failing to pose a comeback. Downtrend resumed once again last week.
• Focus for Euro now is on ECB press conference on 15^th April, Wednesday.

GBP/USD -

Trading at 1.463

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• NIL

Commentary -

• Pound is better performer so far among majors, however continue to pose periodic weakness amid election next month.

USD/JPY -

Trading at 120.2

Trend meter -

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

Economic release today -

• NIL

Commentary -

• Pair remains well bid in favor of dollar. However today, sudden sell off during European hours took the pair as low as 119.7, after it reached high of 120.8.

USD/CHF -

Trading at 0.978

Trend meter -

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

Economic release today -

• NIL

Commentary -

• Bulls remain in charge of the pair, despite being a medium term sell. Short term traders can play both buy support and sell resistance in the pair.