Currency snapshot (major pairs)

Dollar index trading at 97.9 (-0.06%).

Strength meter (today so far) - Euro +0.05%, Franc -0.81%, Yen -0.03%, GBP +0.74%

Strength meter (since last week) - Euro -0.86%, Franc -1.13%, Yen -0.68%, GBP +0.33%

EUR/USD -

Trading at 1.073

Trend meter -

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

Support -

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

Resistance -

• Long term - 1.1035-1.11, Medium term - 1.102-1.11, Short term - 1.083-1.086

Economic release today -

• Euro zone consumer confidence moved down to -4.6 from -3.70 prior

Commentary -

• Euro traded in high intraday volatility, bulls got boost around 1.07 area, tested 1.08 intraday, however failed to break above such. Worsening of consumer confidence is pushing the pair lower.

GBP/USD -

Trading at 1.502

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 - 1.462-1.455

Resistance -

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

Economic release today -

• BOE released monetary policy minutes today.

Commentary -

• Pound is best performer this week, broken above 1.50 today, traded as high as 1.508. Bulls might push rates towards 1.526. Broad based weaker dollar would provide the boost required.

USD/JPY -                      

Trading at 119.8

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 - 118.5-118

Resistance -

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

Economic release today -

• Leading economic index dropped to 104.8 from 105 prior and coincident index dropped to 110.7 from 113.2 prior. Japanese trade details are scheduled for release at 23:50 GMT.

Commentary -

• Yen is trading flat today, showing little signs of life, taking cues from the dollar.

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 - 0.95

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.997, Immediate - 0.966-0.972

Economic release today -

• Zew economic expectation improved to -23.2 from -37.9 prior.

Commentary -

• Franc is the worst performer today, as franc bulls failed to break below 0.95 area.