Currency snapshot (major pairs)

Dollar index trading at 97.49 (-0.06%).

Strength meter (today so far) - Euro +0.26%, Franc -0.22%, Yen -0.27%, GBP +0.32%

Strength meter (since last week) - Euro +0.26%, Franc -0.22%, Yen -0.27%, GBP +0.32%

EUR/USD -

Trading at 1.099

Trend meter -

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

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 Sentix investor confidence dropped to 18.4 from 18.5

Commentary -

• Euro gained further grounds today and likely to trade higher.

GBP/USD -

Trading at 1.554

Trend meter -

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

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 -

• BRC retail sales to be released at 23:00 GMT.

Commentary -

• Pound is the best performer today as it found support at range low last week.

USD/JPY -                      

Trading at 124.5

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.

Economic release today -

• Consumer confidence dropped to 40.3 in July from 41.7 in June.
• Current account surplus came at Y558.6 billion, lower than prior Y 1.88 trillion.

Commentary -

• Yen is the worst performer today as weaker than expected economic releases continue to weigh. Yen might lose to 127 against dollar if support around 121 holds.

USD/CHF -                                                                                         

Trading at 0.985

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 -

• NIL.

Commentary -

• SNB intervention keeps Fran weak. Expect further loss against Dollar.