Currency snapshot (major pairs)

Dollar index trading at 96.64 (-0.17%).

Strength meter (today so far) - Euro +0.23%, Franc +0.60%, Yen +0.25%, GBP +0.96%

Strength meter (since last week) - Euro -1.29%, Franc -0.77%, Yen -0.42%, GBP +0.77%

EUR/USD -

Trading at 1.101

Trend meter -

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

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 -

• Euro zone industrial production dropped -0.4% in May.

Commentary -

• Euro traded as high as 1.108 against dollar after weaker retail sales, however gave up some of the gains as skepticism remains over Greece, who needs to pass the initial legislation by Wednesday.

GBP/USD -

Trading at 1.564

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.544

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.562(broken)

Economic release today -

• UK inflation dropped to zero.

Commentary -

• Pound is likely to trade as high as 1.59 against dollar if it manages to stay above 1.53. Pound got boost from BOE's Mark Carney's hawkish outlook.

USD/JPY -                      

Trading at 123.3

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 - 119.7, Immediate - 120.7

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 127.5. Immediate - 124.3

Economic release today -

• NIL

Commentary -

• Yen is treading water around 123.5 area as risk aversion remains at bay. Yen might lose to 127 against dollar, if risk aversion subsides further.

USD/CHF -                                                                                         

Trading at 0.945          

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 medium term sell against dollar.