Currency snapshot (major pairs)

Dollar index trading at 97.95 (-0.45%).

Strength meter (today so far) - Euro +0.53%, Franc +0.32%, Yen +0.06%, GBP +0.57%

Strength meter (since last week) - Euro +0.96%, Franc +1.55%, Yen +0.81%, GBP +1.71%

EUR/USD -

Trading at 1.07

Trend meter -

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

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 -

• NIL

Commentary -

• Euro is posing strength today, as risk aversion over Greece resulted in higher yield across Euro zone, leading to a drop in yield differential with US. Euro strength might pose the pair to test 1.105 area once more.

GBP/USD -

Trading at 1.489

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 -

• NIL

Commentary -

• Pound bounced back sharply, as bulls might test sellers around 1.50 area once more. As of now bulls are facing resistance near 1.49.

USD/JPY -                      

Trading at 119.2

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, Immediate - 118.8

Resistance -

• Long term - 125, Medium term - 122, Short term - 122. Immediate - 120.8

Economic release today -

• NIL

Commentary -

• Yen once again moved to lower volatility, now stands as the worst performer so far this week.

USD/CHF -

Trading at 0.964

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, lacking conviction, however remains better performer than Euro, pushing EUR/CHF lower.