Currency snapshot (major pairs)

Dollar index trading at 97.36 (-0.03%)

Strength meter (today so far) – Euro +0.10%, Franc -0.01%, Yen -0.06%, GBP +0.50%

Strength meter (since last week) – Euro +0.10%, Franc -0.01%, Yen -0.06%, GBP +0.50%

EUR/USD –

Trading at 1.119

Trend meter –

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

Support          

• Long term – 1.07, Medium term – 1.09, Short term – 1.10

Resistance –

• Long term – 1.16, Medium term – 1.14, Short term – 1.12 (broken)

Economic release today –

• Private loans rose by 2.4 percent y/y in April.
• M3 money supply is up 5 percent y/y.

Commentary –

• The euro is consolidating around key resistance of 1.12

GBP/USD –

Trading at 1.285

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 1.16, Medium term – 1.23, Short term – 1.27

Resistance –

• Long term – 1.32, Medium term – 1.305, Short term – 1.305

Economic release today –

• NIL

Commentary –

• The pound is the best performer of the day but last week it suffered a major loss against the dollar and other currencies. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.3

Trend meter –

• Long term – Sell, Medium term – sell, Short term – Range

Support –

• Long term – 109, Medium term – 110, Short term – 112

Resistance –

• Long term – 119, Medium term – 115, Short term – 115

Economic release today –

• Unemployment report for April will be published at 23:30 GMT, followed by retail sales report at 23:50 GMT.

Commentary –

• The yen is down against the dollar today, the worst performer so far.

USD/CHF –        

Trading at 0.974

Trend meter –

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

Support –

• Long term – 0.95, Medium term – 0.95, Short term – 0.95

Resistance –

• Long term – 1.08, Medium term – 1.037, Short term – 1

Economic release today –

• NIL

Commentary –

• Franc is flat for the day.