Currency snapshot (major pairs)

Dollar index trading at 97.70 (+0.60%).

Strength meter (today so far) - Euro -0.61%, Franc -0.48%, Yen -0.18%, GBP -0.40%

Strength meter (since last week) - Euro -2.55%, Franc -2.05%, Yen -1.10%, GBP +0.33%

EUR/USD -

Trading at 1.087

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 inflation for June came at 0.2%.
• ECB left monetary policy unchanged.

Commentary -

• Stronger dollar and monetary divergence pushed Euro to key short term support area.

GBP/USD -

Trading at 1.556

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 - 1.572

Economic release today -

• NIL

Commentary -

• Pound after holding out strong, broke lower against dollar as USD remains well bid across board after Yellen testimony.

USD/JPY -                      

Trading at 124.2

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 continue to lose ground against dollar, now is at key resistance. Yen might lose to 127 against dollar, if risk aversion subsides further.

USD/CHF -                                                                                         

Trading at 0.957          

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 -

• Retail sales dropped by -1.8% in May from a year ago.

Commentary -

• Franc is likely to remain medium term sell against dollar and drop further.