Currency snapshot (major pairs)

Dollar index trading at 101.23 (-0.01%)

Strength meter (today so far) – Euro -0.09%, Franc -0.11%, Yen -0.31%, GBP -0.27%

Strength meter (since last week) – Euro -0.09%, Franc -0.11%, Yen -0.31%, GBP -0.27%

EUR/USD –

Trading at 1.058

Trend meter –

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

Support          

• Long term – 1.032, Medium term – 1.05, Short term – 1.06

Resistance –

• Long term – 1.09, Medium term – 1.085, Short term – 1.085

Economic release today –

• Sentix investor confidence improves to 23.9 in April.

Commentary –

• The euro remains under pressure as Russia-US tension escalates, along with the upcoming French election.

GBP/USD –

Trading at 1.24

Trend meter –

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

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 is the best performer of the day. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.3

Trend meter –

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

Support –

• Long term – 107, Medium term – 109, Short term – 109

Resistance –

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

Economic release today –

• Eco watcher’s survey sentiment for March deteriorates.

Commentary –

• The yen is the worst performer of the day.

USD/CHF –        

Trading at 1.01

Trend meter –

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

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 –

• NIL

Commentary –

• Franc is once again moving in line with the euro.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14