Currency snapshot (major pairs)

Dollar index trading at 94.56 (-0.49%).

Strength meter (today so far) - Euro +0.79%, Franc -0.97%, Yen -0.01%, GBP +0.49%

Strength meter (since last week) - Euro +0.22%, Franc +0.65%, Yen -0.28%, GBP +1.39%

EUR/USD -

Trading at 1.123

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.106-1.102, Short term - 1.11

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.14, Immediate - 1.129-1.132

Economic release today -

• NIL

Commentary -

• Euro gained as dollar weakened by global selling and bund yields rose close to Thursday's high. Trades should be dealt with caution amid high volatility. Focus remains on bund yield.

GBP/USD -

Trading at 1.565

Trend meter -

• Long term - Range, Medium term - Buy Support, Short term - Range/Buy support/Buy breakout

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.537-1.534

Resistance -

• Long term - 1.592-1.616, Medium term - 1.58-1.586, Short term - 1.582-1.584

Economic release today -

• UK industrial production improved/ manufacturing production rose 1.1% in March and Industrial production 0.7%, on yearly basis.
• NISER GDP estimate will be published at 14:00 GMT.

Commentary -

• Pound is the best performer this week so far and got further boost from industrial data. Rise up to 1.592 area seems very much likely.

USD/JPY -                      

Trading at 120.1

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 - 118.5-118

Resistance -

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

Economic release today -

• NIL

Commentary -

• Yen is the worst performer this week so far as today's sell offs in equity failed to drive risk aversion sentiment. Yen is very much likely to continue to move in the range.

USD/CHF -

Trading at 0.925

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.917-0.913, Short term - 0.90

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987, Immediate - 0.944-0.947

Economic release today -

• NIL

Commentary -

• Franc is the best performer today, driven by weaker dollar. Further rise in franc is likely given the resistance around 0.94 area holds.