Currency snapshot (major pairs)

Dollar index trading at 97.72 (+0.68%).

Strength meter (today so far) - Euro -0.86%, Franc -0.67%, Yen -0.78%, GBP -0.30%

Strength meter (since last week) - Euro -1.15%, Franc -1.36%, Yen -1.24%, GBP -0.48%

EUR/USD -

Trading at 1.084

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

Economic release today -

• Euro zone services PMI grew to 54.2 and composite PMI at 54. Both up from February, however lower than flash estimate.

Commentary -

• Euro is best worst performer today. Improved economic prospect failed to boost it, as investors remain hungry for yield spread in favor of dollar.
• The pair was dumped from resistance area around 1.10 yesterday once again.

GBP/USD -

Trading at 1.484

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

Resistance -

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

Economic release today -

• Services PMI grew at 58.9 compared to 56.7 prior.

Commentary -

• Pound is doing pretty well this weak so far, especially against majors.
• Pound was rejected yesterday around 1.50 level.

USD/JPY -

Trading at 120.4

Trend meter -

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

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 - 120.3-120.55

Economic release today -

• Balance of payment statistics to be released around 23:50 GMT.

Commentary -

• Yen has lost heavily against dollar. Pair is in bound 120.5. However further losses might occur, should it break above it.
• Tomorrow's BOJ monetary policy decisions might provide guidance.

USD/CHF -

Trading at 0.964

Trend meter -

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

• Forex reserve grew to 522.3 billion from prior 509.3 billion

Commentary -

• Franc is worst performer this week so far. Pair bounced back form 0.95, immediate support area. However bears are still in control.