Currency snapshot (major pairs)

Dollar index trading at 97.2 (+0.25%).

 Strength meter (today so far) - Euro -0.24%, Franc +1%, Yen +0.10%, GBP -0.5%

Strength meter (since last week) - Euro +0.98%, Franc 1.51%, Yen +0.29%, GBP -0.63%

EUR/USD -

Trading at 1.091

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.077-1.075, Immediate - 1.088-1.0855

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.102-1.105

Economic release today -

• French composite PMI fell to 51.7, with manufacturing rising to 48.2 and services to 52.8
• German Composite PMI rose to 55.3, with manufacturing rising to 52.4 and services to 55.3
• Euro zone composite OMI rose to 54.1, with manufacturing rising to 51.9 and services to 54.3
• Wages rose by 1.1% in Italy, however stayed the same on monthly basis.

Commentary - 

• Euro came down sharply from resistance after trading as high as 1.1029, after inflation figures were released in US.

GBP/USD -

Trading at 1.486

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.462-1.455, Short term - 1.475-1.472, Immediate - 1.485-1.482

Resistance -

• Long term - 1.553-1.56, Medium term - 1.516-1.52, Short term - 1.498-1.502

Economic release today - 

• CPI rose 0.3% mom and 0% YoY. Core price rose 1.2% YoY.
• House price index rose by 8.4%.
• PPI rose by 0.2% mom, fell -1.8% YoY.
• Retail price index rose 0.55 mom and 1% YoY.

Commentary -

• Weaker inflation data is weighing on pound which is a worst performer this week.

USD/JPY -

 Trading at 119.65

Trend meter -

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

 Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119.5-119.2

Resistance -

• Long term - 125, Medium term - 122, Short term - 122

Economic release today -

• NIL

Commentary -

• Yen is benefiting from broad based US dollar weakness. The pair has broken below the support area and might move towards 118.2 over the coming days.

USD/CHF -

Trading at 0.956

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.937, Short term - 0.945

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.997

 Economic release today -

• NIL

Commentary -

• Franc is the best performer today and this week. Swiss national bank might be unloading its portfolio gradually.
• The pair has broken below its support and might move towards further lows.