Currency snapshot (major pairs)

Dollar index trading at 90.24 (+0.09%)

Strength meter (today so far) – Euro -0.04%, Franc -0.18%, Yen -0.19%, GBP +0.16%

Strength meter (since last week) – Euro -0.04%, Franc -0.18%, Yen -0.19%, GBP +0.16%

EUR/USD –

Trading at 1.227

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 –

• Sentix investor confidence declined to 19.6 in March.

Commentary –

• The euro is marginally lower today to start the week.

GBP/USD –

Trading at 1.41

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 –

• Halifax house price index rose 1.5 percent in March, up 2.7 percent from a year ago.

Commentary –

• The pound is again the best performer of the week. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 107.1

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 (testing)

Economic release today –

• Consumer confidence came at 44.3 in March.

Commentary –

• The yen is down due to lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.96

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 – 0.98

Economic release today –

• NIL

Commentary –

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

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