Currency snapshot (major pairs)

Dollar index trading at 99.01 (+0.25%).

Strength meter (today so far) - Euro -0.53%, Franc +0.05%, Yen +0.05%, GBP -0.17%

Strength meter (since last week) - Euro -0.08%, Franc +0.61%, Yen +0.73%, GBP +0.82%

EUR/USD -

Trading at 1.059

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.048-1.036, Short term - 1.048-1.036

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.07-1.074

Economic release today -

• ECB kept monetary policy unchanged and pledged to keep policy support for long. Euro area non-seasonally adjusted trade balance improved to € 20.3 billion up from € 7.6 billion.

Commentary -

• Euro bounced after ECB press conference mainly from weaker us economic dockets, however rally was cut short by dollar bulls around 1.064.

GBP/USD -

Trading at 1.475

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• CB leading economic index improved by 0.06% in March.

Commentary -

• Pound is best performer this week so far, bulls are strongly defending 1.46 area support. As of now sell orders remain high around 1.48.

USD/JPY -                      

Trading at 119.4

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

Economic release today -

• Japan industrial production dropped -3.1% in February m/m and -2% y/y.

Commentary -

• Yen has moved further downwards gradually. Volatility remains low in the pair. Pair is reported to being used for cross bets over pound and Euro.

USD/CHF -

Trading at 0.973

Trend meter -

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

Economic release today -

• NIL

Commentary -

• Pair continue to trade sideways, as bulls and bears remain broadly balanced.