Currency snapshot (major pairs)

Dollar index trading at 101.02 (-0.15%)

Strength meter (today so far) – Euro +0.11%, Franc +0.46%, Yen +0.46%, GBP -0.12%

Strength meter (since last week) – Euro +0.35%, Franc +0.03%, Yen -0.25%, GBP -0.24%

EUR/USD –

Trading at 1.059

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Sell

Support                      

• Long term – 1.01, Medium term – 1.032, Short term – 1.032

Resistance –

• Long term – 1.09, Medium term – 1.07, Short term – 1.07

Economic release today –

• NIL

Commentary –

• The euro is the best performer of the week so far.

GBP/USD –

Trading at 1.242

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – range/buy

Support –

• Long term – 1.16, Medium term – 1.2, Short term – 1.2

Resistance –

• Long term – 1.32, Medium term – 1.27, Short term – 1.27

Economic release today –

• NIL

Commentary –

• The pound remains downbeat as Scoxit fear weighs. We expect the pound to reach parity in the longer run.

USD/JPY –                      

Trading at 112.2

Trend meter –

• Long term – Sell, Medium term – Range/ Buy, Short term – sell

Support –

• Long term – 98, Medium term – 105, Short term – 112

Resistance –

• Long term – 121, Medium term – 119, Short term – 115

Economic release today –

• Vehicle production is up 3.8 percent from a year ago.
• Housing starts numbers are up 12.8 percent in January from a year ago.

Commentary –

• The yen is the worst performer of the week.

USD/CHF –        

Trading at 1.005

Trend meter –

• Long term – Buy, Medium term – Range/Buy, Short term – Range/sell

Support –

• Long term – 0.95, Medium term – 0.95, Short term – 0.98

Resistance –

• Long term – 1.08, Medium term – 1.037, Short term – 1.037

Economic release today –

• KOF leading indicator rose sharply to 107.2 in February.

Commentary –

• Franc is only marginally higher this week so far.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14