Currency snapshot (major pairs)

Dollar index trading at 96.86 (-0.64%).

Strength meter (today so far) - Euro +0.97%, Franc +0.70%, Yen +0.15%, GBP +0.20%

Strength meter (since last week) - Euro +0.58%, Franc -0.02%, Yen -0.12%, GBP +0.83%

EUR/USD -

Trading at 1.104

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 - 1.08-1.085

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 unemployment rate came at 11.1% in June, same as May.
• Euro zone preliminary reading showed 0.9% rise in core inflation in July.

Commentary -

• Euro rose sharply to as high as 1.115 against dollar, after employment cost index surprised to downside.

GBP/USD -

Trading at 1.564

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.544-1.54

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.572

Economic release today -

• NIL

Commentary -

• Pound jumped back, similar to Euro to trade as high as 1.568 from 1.556 as dollar dropped after slower wage growth.

USD/JPY -                      

Trading at 123.9

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119.7, Immediate - 120.7

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 127.5. Immediate - 124.3

Economic release today -

• NIL

Commentary -

• Yen remains as the worst performer this week. Yen might lose to 127 against dollar if support around 121 holds.

USD/CHF -                                                                                         

Trading at 0.962

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.90, Short term - 0.95

Resistance -

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

Economic release today -

• KOF leading indicator rose to 99.8 in July from 89.8 in June.

Commentary -

• The pair is likely to reach as high as 0.987 against dollar. Franc gained ground today but remains a sell against dollar.