Currency snapshot (major pairs)

Dollar index trading at 95.28 (-0.04%).

Strength meter (today so far) - Euro -0.11%, Franc -0.30%, Yen +0.22%, GBP +0.10%

Strength meter (since last week) - Euro +1.44%, Franc +0.99%, Yen +1.01%, GBP +0.60%

EUR/USD -

Trading at 1.127

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.106

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.14-1.145, Immediate - 1.132-1.135

Economic release today -

• Euro zone GDP grew 0.4% in first quarter.

Commentary -

• Euro is experiencing high volatility, dropped to 1.121 from 1.135 today. Short term bias remains upwards.

GBP/USD -

Trading at 1.536

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, Immediate - 1.525-1.528

Resistance -

• Long term - 1.592-1.616, Medium term - 1.58-1.586, Short term - 1.566-1.57, Immediate - 1.542-1.545

Economic release today -

• Trade deficit dropped -1.2 billion in April.

Commentary -

• Improved trade balance provided support to pound which gained against all major counterparts today.

USD/JPY -                      

Trading at 124.3

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119, Immediate - 123.6

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 127.5

Economic release today -

• NIL

Commentary -

• Yen gained amid global risk aversion but remains a sell against dollar.

USD/CHF -

Trading at 0.93

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 CPI grew +0.2% m/m but remain negative at -1.2% from a year ago. Unemployment rate remained same at 3.3% in May.

Commentary -

• Franc is hovering close to support. Risk reward favors taking long position in the pair.