Currency snapshot (major pairs)

Dollar index trading at 97.30 (-0.76%).

Strength meter (today so far) - Euro +0.88%, Franc +0.46%, Yen +0.32%, GBP -0.09%

Strength meter (since last week) - Euro +0.90%, Franc +0.18%, Yen +0.12%, GBP -0.30%

EUR/USD -

Trading at 1.093

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 the best performer today and this week, as it takes support in short term area and waves of short covering at key level.

GBP/USD -

Trading at 1.555

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Buy support/ Sell resistance

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.544-1.54

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.572

Economic release today -

• Public sector net borrowing came at £8.584 billion, lower than what was expected.

Commentary -

• Pound is down this week against all pairs. Further correction is possible.

USD/JPY -                      

Trading at 123.8

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 -

• Dollar -Yen failed key resistance. Despite today's correction, Yen remains sell against dollar.. Yen might lose to 127 against dollar.

USD/CHF -                                                                                         

Trading at 0.959

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 -

• Trade balance rose to Franc 3.58 billion in June.

Commentary -

• Franc is gaining as dollar is down across board. The pair is likely to reach as high as 0.987 against dollar.