Currency snapshot (major pairs)

Dollar index trading at 89.48 (+0.45%)

Strength meter (today so far) – Euro -0.59%, Franc -0.46%, Yen -0.21%, GBP -0.87%

Strength meter (since last week) – Euro +0.23%, Franc -0.22%, Yen -0.97%, GBP -0.13%

EUR/USD –

Trading at 1.238

Trend meter –

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

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• Private loans up 2.9 percent y/y in February.
• M3 money supply up 4.2 percent y/y in February.
• Business climate declined to 1.34 in March
• Economic sentiment declined to 112.6
• Industrial confidence declined to 6.4
• Consumer confidence unchanged at 0.1
• Services sentiment declined to 16.3

Commentary –

• The euro gave up earlier gains as dollar rebounds with strength.

GBP/USD –

Trading at 1.412

Trend meter –

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

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• NIL

Commentary –

• The pound gave up all of its earlier gain and down for the week as the dollar recovers. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 105.7

Trend meter -

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

Support –

• Long term – 101, Medium term – 104.2, Short term – 104.2

Resistance –

• Long term – 111, Medium term – 109, Short term – 107

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the week as equities recover. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.949

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95 (testing)

Economic release today –

• NIL

Commentary –

• Franc is a much worse performer than the euro this week.

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