Currency snapshot (major pairs)

Dollar index trading at 96.66 (+0.08%).

Strength meter (today so far) - Euro -0.38%, Franc -0.14%, Yen -0.26%, GBP +0.28%

Strength meter (since last week) - Euro +0.64%, Franc -0.17%, Yen +0.14%, GBP +0.64%

EUR/USD -

Trading at 1.105

Trend meter -

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

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 struggling to break free of 1.11 area as Dollar is well bid ahead of FOMC meeting today.

GBP/USD -

Trading at 1.56

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 - 1.544-1.54

Resistance -

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

Economic release today -

• UK second quarter GDP is estimated to grow by 0.7% and grow by 2.6% on yearly basis.

Commentary -

• Pound is the best performer today as GDP provided the necessary boost after retail sales disappointment.

USD/JPY -                      

Trading at 123.6

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 is continuing its range trade. Yen might lose to 127 against dollar if support around 121 holds.

USD/CHF -                                                                                         

Trading at 0.963

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 lost grounds against dollar. The pair is likely to reach as high as 0.987 against dollar.