Currency snapshot (major pairs)

Dollar index trading at 94.15 (+0.07%)

Strength meter (today so far) – Euro +0.00%, Franc -0.53%, Yen +0.23%, GBP +0.13%

Strength meter (since last week) – Euro -0.12%, Franc -1.33%, Yen -0.58%, GBP +0.40%

EUR/USD –

Trading at 1.164

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Breakout/ Buy

Support          

• Long term – 1.11, Medium term – 1.125, Short term – 1.14

Resistance –

• Long term – 1.20, Medium term – 1.18, Short term – 1.16 (broken)

Economic release today –

• NIL

Commentary –

• The euro is consolidating above 1.16 area as the focus is on FOMC rate decision. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.304

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Sell

Support –

• Long term – 1.26, Medium term – 1.275, Short term – 1.293

Resistance –

• Long term – 1.345, Medium term – 1.305, Short term – 1.305

Economic release today –

• Flash reading showed second quarter GDP up 0.2 percent q/q and up 1.7 percent from a year ago.

Commentary –

• The pound is up today on better than expected GDP data.

USD/JPY –           

Trading at 111.7

Trend meter –

• Long term – Sell, Medium term – sell, Short term – Range/Sell

Support –

• Long term – 107, Medium term – 108.4, Short term – 111

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

• NIL

Commentary –

• The yen is down this week as the dollar recovers ground ahead of FOMC today.

USD/CHF –

Trading at 0.958

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95 (broken)

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

• UBS consumption indicator improves to 1.38 I June

Commentary –

• Franc is the worst performer of the week so far. Active call – sell pair targeting 0.92

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