Currency snapshot (major pairs)

Dollar index trading at 94.77 (+0.05%)

Strength meter (today so far) – Euro +0.01%, Franc -0.40%, Yen -0.38%, GBP +0.14%

Strength meter (since last week) – Euro -0.59%, Franc -1.09%, Yen -1.76%, GBP -0.32%

EUR/USD –

Trading at 1.167

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 –

• Industrial production up 1.3 percent in May, up 2.4 percent from a year ago.

      Commentary –

• The euro is heading lower as the dollar recovers. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095

GBP/USD –

Trading at 1.322

Trend meter –

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

Support –

• Long term – 1.24, Medium term – 1.27, Short term – 1.3

Resistance –

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

Economic release today –

• NIL

Commentary –

• The pound is the best performer this week but down against the 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 112.4

Trend meter -

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

Support –

• Long term – 104.2, Medium term – 106.2, Short term – 109.2

Resistance –

• Long term – 114, Medium term – 111, Short term – 111

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the week as equities rise.

USD/CHF –

Trading at 1.00

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 a much worse performer than the euro.