Currency snapshot (major pairs)

Dollar index trading at 97.2 (-0.14%).

Strength meter (today so far) - Euro +0.48%, Franc +0.17%, Yen +0.07%, GBP -0.52%

Strength meter (since last week) - Euro +1.41%, Franc +0.28%, Yen +0.04%, GBP -0.43%

EUR/USD -

Trading at 1.098

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, support at 1.08 area proved to be stronger than initially estimated. Further rise is possible though fundamental remains negative.

GBP/USD -

Trading at 1.553

Trend meter -

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

• Retail sales for June surprised to downside, came at -0.2% over May.

Commentary -

• Pound is the worst performer today as retail sales soured mood.

USD/JPY -                      

Trading at 124

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 again, the pair dropped towards 123.7. 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 0.958

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 gained back some ground but remains sell against dollar.. The pair is likely to reach as high as 0.987 against dollar.