Currency snapshot (major pairs)

Dollar index trading at 95.43 (+0.03%).

Strength meter (today so far) - Euro +0.07%, Franc -0.31%, Yen -0.17%, GBP -0.39%

Strength meter (since last week) - Euro -1.45%, Franc -2.04%, Yen -1.17%, GBP -1.22%

EUR/USD -

Trading at 1.118

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.106, Immediate - 1.118-1.115

Resistance -

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

Economic release today -

• NIL

Commentary -

• Euro dropped sharply against dollar as policy divergence took center stage once more.

GBP/USD -

Trading at 1.568

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.548-1.545, 1.572(broken)

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.595

Economic release today -

• BBA mortgage approvals rose to 42,500 in May from 42,100 in April.

Commentary -

• Pound is down against dollar as yields rose in US.

USD/JPY -                      

Trading at 124.1

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119, Immediate - 122.2-122.6

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 127.5. Immediate - 123.4

Economic release today -

• NIL

Commentary -

• Yen lost further ground against dollar as policy divergence is back in focus.

USD/CHF -

Trading at 0.935

Trend meter -

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

Support -

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

Resistance -

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

Economic release today -

• NIL

Commentary -

• Franc is the worst performer this week, down more than 2% against dollar so far. Franc remains sell against dollar.