Currency snapshot (major pairs)

Dollar index trading at 95.52 (+0.23%).

Strength meter (today so far) - Euro -0.30%, Franc -0.01%, Yen -0.36%, GBP +0.21%

Strength meter (since last week) - Euro -2.99%, Franc -2.29%, Yen -1.49%, GBP -1.23%

EUR/USD -

Trading at 1.11

Trend meter -

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

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 - 1.15

Economic release today -

• Euro zone construction output grew by 0.8% m/m in March, however still down -2.7% from a year ago.

Commentary -

• Euro lost further grounds in Asian and early European trade. Touching lowest area of support at 1.106. Bounce back has remained relatively mute. Price is consolidating around 1.11, ahead of FOMC minutes.

GBP/USD -

Trading at 1.553

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 -

• BOE policymakers remain unanimous over monetary policy.

Commentary -

• Pound traded in high volatility. Pound traded as high as 1.558, bouncing from today's low around 1.546

USD/JPY -                      

Trading at 120.1

Trend meter -

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

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(broken)

Economic release today -

• Japan's GDP might have grown 2.4% annualized rate at first quarter according to preliminary estimate.

Commentary -

• Pair broke 120.8 range and likely to further high around 122, next range high.

USD/CHF -

Trading at 0.937

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 -

• NIL

Commentary -

• Franc is trading flat today against dollar. Buy is still not recommended in large quantity. Resistance ahead might push the pair lower, which might be suitable position to buy.