Currency snapshot (major pairs)

Dollar index trading at 97.24 (+0.06%).

Strength meter (today so far) - Euro -0.13%, Franc -0.28%, Yen -0.10%, GBP -0.02%

Strength meter (since last week) - Euro -0.13%, Franc -0.28%, Yen -0.10%, GBP -0.02%

EUR/USD -

Trading at 1.097

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 PMI for July rose to 52.4 from 52.2 in June.

Commentary -

• Euro is down marginally today, facing resistance around 1.10 area.

GBP/USD -

Trading at 1.561

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 -

• July manufacturing PMI improved to 51.9 from 51.4 prior.

Commentary -

• Pound continues to hover around 1.56 area with low volatility.

USD/JPY -                      

Trading at 124

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 - 124.3-124.5

Economic release today -

• NIL

Commentary -

• Yen remains well offered to begin the week, however 124.3 is proving ti be tough resistance for dollar Yen might lose to 127 against dollar if support around 121 holds.

USD/CHF -                                                                                         

Trading at 0.968

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 -

• PMI deteriorated in July to 48.7 from 50 prior.

Commentary -

• The pair might reach as high as 0.987 against dollar. Franc is the worst performing major today.