Currency snapshot (major pairs)

Dollar index trading at 95.83 (+0.48%).

Strength meter (today so far) - Euro -0.55%, Franc -0.93%, Yen -0.31%, GBP -0.06%

Strength meter (since last week) - Euro +0.46%, Franc -0.75%, Yen +1.28%, GBP -0.61%

EUR/USD 

Trading at 1.123

Trend meter -

• Long term - Buy, 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 - 1.172, Short term - 1.163, Immediate - 1.132

Economic release today -

• Euro zone unemployment rate dropped to 10.9%, lowest level in more than three years

Commentary -

• Euro is consolidating between 1.132 and 1.118 area. Further consolidation likely heading into NFP.

GBP/USD -

Trading at 1.529

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,

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.58

Economic release today -

• Manufacturing PMI contracted further to 51.5 in August from 51.9 in July.

Commentary -

• Pound is relatively better performer today, currently challenging key support at 1.53 area. Further decline is possible but correction might extend till 1.55 area.

USD/JPY -                      

Trading at 120

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 124.5

Economic release today -

• PMI for manufacturing dropped to 51.7 in August from 51.9 in July.

Commentary -

• Yen is the best performer this week but failing to gain traction as major risk aversion turning into general selling.

USD/CHF                                                               

Trading at 0.969

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.90, Short term - 0.93

Resistance -

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

Economic release today -

• PMI rose to 52.2 in August from 48.7 in July.

Commentary -

• Franc is the worst performer today as SNB remains net seller of the currency.