Currency snapshot (major pairs)

Dollar index trading at 97.55 (+0.25%).

Strength meter (today so far) - Euro -0.35%, Franc -0.26%, Yen -0.06%, GBP +0.42%

Strength meter (since last week) - Euro +0.79%, Franc -0.02%, Yen +0.16%, GBP +0.23%

EUR/USD -

Trading at 1.09

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 this week, however it is faced sharp selloffs after reaching to 1.097 area. FOMC next week might break the short term area. Bias remains downside.

GBP/USD -

Trading at 1.563

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 -

• BOE still unanimous on current policy as minutes show.

Commentary -

• Pound has recovered lost grounds as BOE rate hike bets are pushing short yields higher.

USD/JPY -                      

Trading at 123.9

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 -

• All industry activity index dropped by -0.5% m/m in May.

Commentary -

• After failing to break key resistance area, the pair dropped towards 123.5. In spite of drop, Yen remains sell against dollar. Yen might lose to 127 against dollar if support around 121 holds.

USD/CHF -                                                                                         

Trading at 0.96

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 gave up gains today as dollar found support after yesterday's massive sell. The pair is likely to reach as high as 0.987 against dollar.