Currency snapshot (major pairs)

Dollar index trading at 93.27 (-0.12%).

Strength meter (today so far) - Euro +0.32%, Franc +0.42%, Yen -0.07%, GBP +0.06%

Strength meter (since last week) - Euro +2.07%, Franc +1.64%, Yen +0.34%, GBP +2.23%

EUR/USD -

Trading at 1.143

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.106-1.102, Short term - 1.11

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.14(broken)

Economic release today -

• NIL

Commentary -

• Euro moved above previous high made and gained as industrial production faltered in US.

GBP/USD -

Trading at 1.577

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.537-1.534

Resistance -

• Long term - 1.592-1.616, Medium term - 1.58-1.586, Short term - 1.582-1.584

Economic release today -

• CB leading economic indicator grew by 0.2% in April compared to 0.6% prior.

Commentary -

• Pound rally came to a halt, however gather pace once more after US data altered. Further rise is likely.

USD/JPY -                      

Trading at 119.3

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 -

• Consumer confidence dropped to 41.5 in April.

Commentary -

• Yen showing heavy volatility intraday making swings both ways, however continuing its range

USD/CHF -

Trading at 0.915

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.917-0.913, Short term - 0.90

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987, Immediate - 0.944-0.947

Economic release today -

• PPI dropped at sharpest pace since crisis in April by -2.1% m/m and -5.2% y/y.

Commentary -

• Franc is the best performer today as bulls pushed dollar lower once again, however pair is likely to consolidate here with downside bias as support area is pretty close.