Currency snapshot (major pairs)

Dollar index trading at 94.7 (-0.19%)

Strength meter (today so far) – Euro +0.06%, Franc +0.08%, Yen +0.15%, GBP -0.24%

Strength meter (since last week) – Euro -0.25%, Franc -0.30%, Yen -0.03%, GBP -0.16%

EUR/USD –

Trading at 1.165

Trend meter –

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

Support          

• Long term – 1.12, Medium term – 1.145, Short term – 1.145

Resistance –

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

Economic release today –

• PPI inflation up 3 percent y/y.
• Retail sales up 1.4 percent y/y in May.

      Commentary –

• The euro opened the week in back foot. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.317

Trend meter –

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

Support –

• Long term – 1.24, Medium term – 1.27, Short term – 1.3 (testing)

Resistance –

• Long term – 1.37 Medium term – 1.35, Short term – 1.33

Economic release today –

• Markit Construction PMI rose to 53.1 in June.
• BRC shop price report will be released at 23:00 GMT.

Commentary –

• The pound is the worst performer of the week on a stronger dollar. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.3

USD/JPY –           

Trading at 110.7

Trend meter -

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

Support –

• Long term – 101, Medium term – 104.2, Short term – 106.2

Resistance –

• Long term – 111, Medium term – 111, Short term – 109 (broken)

Economic release today –

• NIL

Commentary –

• The yen is down on strong dollar despite a slide in equities.

USD/CHF –

Trading at 0.992

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 1.00

Economic release today –

• NIL

Commentary –

• Franc is down in line with the euro.