Currency snapshot (major pairs)

Dollar index trading at 95.91 (-0.45%)

Strength meter (today so far) – Euro +0.21%, Franc +0.02%, Yen -0.04%, GBP +0.80%

Strength meter (since last week) – Euro +0.06%, Franc -1.07%, Yen -0.93%, GBP -1.47%

EUR/USD –

Trading at 1.107

Trend meter –

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

Support

• Long term – 1.08, Medium term – 1.10, Short term – 1.10  

Resistance –

• Long term – 1.16, Medium term – 1.145, Short term – 1.12

Economic release today –

• NIL

Commentary –

• Euro is up today against the dollar, rising on risk affinity.

GBP/USD –

Trading at 1.333

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.25, Short term – 1.29 

Resistance –

• Long term – 1.5, Medium term – 1.38, Short term – 1.35

Economic release today –

• NIL

Commentary –

• The pound has jumped higher trying to form a bottom around 1.3 area. However likely to face selling pressure ahead.

USD/JPY –                      

Trading at 102.3

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 100

Resistance –

• Long term – 111, Medium term – 107, Short term – 103.5

Economic release today –

• NIL

Commentary –

• Yen has lost more ground on rising equities. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5 all targets reached, new target 90 added.

USD/CHF –        

Trading at 0.98

Trend meter –

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

Support –

• Long term – 0.9, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 0.994

Economic release today –

• NIL

Commentary –

• Due to SNB intervention, Franc is weaker performer this week. We expect Franc to strengthen against Dollar to as high as 0.86 area in the medium term.