Currency snapshot (major pairs)

Dollar index trading at 97.53 (+0.67%).

Strength meter (today so far) - Euro -0.91%, Franc -0.70%, Yen -0.45%%, GBP -0.65%

Strength meter (since last week) - Euro -0.91%, Franc -0.70%, Yen -0.45%%, GBP -0.65%

EUR/USD -

Trading at 1.089

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.065

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.12-1.123, Immediate - 1.103-1.105

Economic release today -

• Euro zone manufacturing PMI came at 52.2 in May.

Commentary -

• Euro has been very volatile, trading in arrange of 1.088-1.098. Italian election and Greek tension pushed Euro towards the low. PCE lower spending brought it back at high. ISM manufacturing once again pushed it to low.

GBP/USD -

Trading at 1.518

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512

Resistance -

• Long term - 1.592-1.616, Medium term - 1.58-1.586, Short term - 1.566-1.57, Immediate - 1.535

Economic release today -

• UK manufacturing PMI came at 52 for may.

Commentary -

• Pound is now very close to its short term support area. Price might go for consolidation here.

USD/JPY -                      

Trading at 124.6

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119, Immediate - 122.8

Resistance -

• Long term - 130, Medium term - 125, Short term - 125

Economic release today -

• Japan manufacturing PMI came at 50.9, same as prior.

Commentary -

• Stronger dollar has pushed yen higher close to 125 psychological resistance.

USD/CHF -

Trading at 0.947

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.917-0.913, Short term - 0.90, Immediate - 0.925

Resistance -

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

Economic release today -

• Swiss PMI came better than expected at 49.4 in May, still in contractionary zone.

Commentary -

• Franc dropped sharply against dollar to start the week. Further drop against dollar is likely.