Currency snapshot (major pairs)

Dollar index trading at 96.44 (+0.12%).

Strength meter (today so far) - Euro +0.31%, Franc -0.35%, Yen -0.22%, GBP -0.78%

Strength meter (since last week) - Euro -1.19%, Franc -1.05%, Yen -0.22%, GBP -1.86%

EUR/USD -

Trading at 1.116

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 - 1.15, Short term - 1.15

Economic release today -

• Euro Zone composite PMI drops to 53.9 in September from 54.4 in August according to flash estimate.

Commentary -

• Euro is the best performer today. However it is too early to say if recent drop is on the reverse.

GBP/USD -

Trading at 1.523

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,

Resistance -

• Long term - 1.592-1.616, Medium term - 1.585, Short term - 1.572

Economic release today -

• NIL

Commentary -

• Pound is the worst performer today and this week as investors pose doubts over promise by BOE officials to hike rates. Active call - Sell Pound targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 120.3

Trend meter -

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

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 -

• NIL

Commentary -

• Yen lost its charm as equities recover worldwide. Active call - Sell USD/JPY targeting 114.7 area with stop loss around 122.

USD/CHF -                                                                                         

Trading at 0.978

Trend meter -

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

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 -

• NIL

Commentary -

• Franc is losing big tonight, led by stronger Dollar. However SNB could be involved over today's move.