Currency snapshot (major pairs)

Dollar index trading at 95.35 (-0.10%).

Strength meter (today so far) - Euro -0.08%, Franc +0.16%, Yen -0.11%, GBP +0.20%

Strength meter (since last week) - Euro -0.34%, Franc +0.16%, Yen -0.09%, GBP +0.18%

EUR/USD -

Trading at 1.115

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.153-1.157, Short term - 1.106-1.102

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.128-1.132

Economic release today -

• Euro zone producer price index grew 0.2% m/m, still down -2.3% on yearly basis in March.

Commentary -

• Euro fallen below 1.11 level intraday, suggesting weakness in bull's strength, however worse than expected US trade balance shore up the price back above 1.11. Euro is struggling to break above 1.12, break could provide further rise. Greek default talks are posing headwinds for further advance.

GBP/USD -

Trading at 1.516

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.462-1.455, Short term - 1.497- 1.494

Resistance -

• Long term - 1.553-1.56, Medium term - 1.553-1.56, Short term - 1.538

Economic release today -

• NIL

Commentary -

• Pound bulls are showing strong resolve despite election on this week Thursday. One week implied volatility reached 18.3% today. Bearish inverted hammer with high of 1.55 remains in focus in weekly chart.

USD/JPY -                      

Trading at 120.3

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 -

• NIL

Commentary -

• Yen is moving closer to resistance of 120.8, a break would provide further boost to dollar bulls and might push towards 122 level.

USD/CHF -

Trading at 0.93

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.917, Short term - 0.93

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987, Immediate - 0.944-0.047

Economic release today -

• NIL

Commentary -

• Franc is expected to appreciate further and test 0.89-0.9 area. This week's NFP report would provide further guidance.