Currency snapshot (major pairs)

Dollar index trading at 96 (-0.08%).

Strength meter (today so far) - Euro +0.13%, Franc +0.24%, Yen +0.34%, GBP -0.03%

Strength meter (since last week) - Euro -0.51%, Franc -0.91%, Yen +0.98%, GBP -0.90%

EUR/USD -

Trading at 1.11

Trend meter -

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

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.106, Immediate - 1.08-1.085

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.14-1.145, Immediate - 1.125-1.132

Economic release today -

• Euro zone services PMI came at 54.4.

Commentary -

• Euro is almost flat heading into weekend where Greeks are likely to vote on a referendum, whether or not to accept creditors' proposal. Expect heavy volatility next week.

GBP/USD -

Trading at 1.56

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.548-1.545

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.595, Immediate - 1.582

Economic release today -

• UK services PMI came at 58.5, above expectation of 57.4

Commentary -

• Pound is likely to drop further as better economic releases failing to yield any significant bids.

USD/JPY -                      

Trading at 122.6

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119.7, Immediate - 122

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 127.5. Immediate - 124.4

Economic release today -

• Japan's services PMI for June came at 51.8

Commentary -

• Yen is receiving strong bids going into weekend, with high event risk associated. Yen is likely to remain well bid next week.

USD/CHF -                                                                                         

Trading at 0.941

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/buy support

Support -

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

Resistance -

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

Economic release today -

• NIL

Commentary -

• Franc is performing very well today as safe haven flows from Europe is benefiting Franc.