Currency snapshot (major pairs)

Dollar index trading at 99.32 (+0.36%).

Strength meter (today so far) - Euro -0.66%, Franc +0.32%, Yen -0.22%, GBP -0.44%

Strength meter (since last week) - Euro -3.34%, Franc -2.94%, Yen -1.14%, GBP -1.84%

EUR/USD -

Trading at 1.06

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• NIL

Commentary -

• Euro has resumed its downtrend once again as yields continue to drop in Euro zone. Pair has broken below 1.06 intraday. Further losses might be ahead.
• Euro stands as the worst performer today and this week. Price might move towards parity next week over ECB policy meeting and press conference.

GBP/USD -

Trading at 1.464

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• UK trade balance deteriorated once again, bringing current account to GDP ratio to record low.
• BOE kept policy on hold.

Commentary -

• Industrial production grew at slower pace of 0.1% in February and manufacturing grew at 0.4% m/m.
• NISER maintained GDP estimate at 0.6%.

USD/JPY -

Trading at 120.2

Trend meter -

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

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 -

• NIL

Commentary -

• Pair remains well bid in favor of dollar. Bulls broke 120.5 resistance area, however struggling to maintain gain.
• Yen became the best major this week, though closing in red.

USD/CHF -

Trading at 0.98

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

Economic release today -

• Unemployment rate stayed at same level, 3.2% in March.

Commentary -

• Bulls have taken over the pair, amid stronger dollar, however medium term trend remains range bound but in favor of selling.
• SNB balance sheet indicates it remains a franc seller in the market.