Currency snapshot (major pairs)

Dollar index trading at 97.45 (-0.68%).

Strength meter (today so far) - Euro +0.96%, Franc +0.78%, Yen -0.15%, GBP -0.05%

Strength meter (since last week) - Euro -0.10%, Franc +0.13%, Yen -0.62%, GBP -0.23%

EUR/USD -

Trading at 1.087

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.07-1.073

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.102-1.105, Immediate - 1.09-1.093

Economic release today -

• NIL

Commentary -

• Euro is best performer after successfully bouncing back from 1.07 area.
• Investors seem to be reducing dollar longs ahead of Easter holiday tomorrow across Europe and Non-farm payroll from US.
• Facing some resistance around 1.09 level.

GBP/USD -

Trading at 1.482

Trend meter -

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

Support -

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

Resistance -

• Long term - 1.553-1.56, Medium term - 1.516-1.52, Short term - 1.498-1.502, Immediate - 1.485-1.487

Economic release today -

• Construction PMI fell to 57.8 from prior 60.1

Commentary -

• Pound is the worst performer today. It clearly struggling to break above 1.485 area.

USD/JPY -

Trading at 119.8

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118.2-118

Resistance -

• Long term - 125, Medium term - 122, Short term - 122, Immediate - 119.8-120.3

Economic release today -

• NIL

Commentary -

• Yen is worst performer this week. Risk aversion over Saudi Attack failed to gain momentum.
• Yen is trading in narrow range of 119.5 and 119.9 today.

USD/CHF -

Trading at 0.959

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.937, Short term - 0.945, Immediate - 0.954-0.95

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.997, Immediate - 0.972-0.975

Economic release today -

• NIL

Commentary -

• Franc is the best performer so far this week. Pair is facing both heavy buying and selling at levels. A close below 0.952 might break the bulls.
• Bulls are facing resistance around 0.972 area.