Currency snapshot (major pairs)

Dollar index trading at 96.36 (-0.42%).

Strength meter (today so far) - Euro +0.41%, Franc -0.05%, Yen +1.5%, GBP -0.82%

Strength meter (since last week) - Euro -0.59%, Franc -0.89%, Yen +1.65%, GBP -1.47%

EUR/USD -

Trading at 1.105

Trend meter -

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

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.14-1.145, Immediate - 1.125-1.132

Economic release today -

• NIL

Commentary -

• Euro is treading water ahead of FOMC minutes today. Greek request to ESM for a new third bail out provided some support.

GBP/USD -

Trading at 1.533

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.53

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.565, Immediate - 1.55

Economic release today -

• Halifax house prices rose 1.7% in June on monthly basis. UK budget was presented today.

Commentary -

• Pound is down sharply today as Yields dropped at sharp pace.

USD/JPY -                      

Trading at 120.7

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119.7, Immediate - 122(broken)

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 127.5. Immediate - 123

Economic release today -

• Eco watcher's survey showed for current situation dropped to 51 from 53.3 while outlook dropped 53.5 from 54.5 prior.

Commentary -

• Yen is top performer today, and likely to continue so as long as risk aversion maintains.

USD/CHF -                                                                                         

Trading at 0.948          

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 likely to remain sell against dollar.