Currency snapshot (major pairs)

Dollar index trading at 97.66 (-0.09%)

Strength meter (today so far) – Euro +0.15%, Franc +0.10%, Yen +0.03%, GBP +0.42%

Strength meter (since last week) – Euro -0.41%, Franc -0.13%, Yen -0.44%, GBP -0.64%

EUR/USD –

Trading at 1.115

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 – 1.14

Economic release today –

• NIL

Commentary –

• The euro continues to decline amid hawkish rhetoric from FOMC policymakers.

GBP/USD –

Trading at 1.268

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 –

• Public sector net borrowing declines to £5.993 billion in May.

Commentary –

• The pound recovered sharply after declining below 1.26 area. Further decline likely. 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 – 107, Medium term – 109, Short term – 109

Resistance –

• Long term – 115, Medium term – 113, Short term – 111.6

Economic release today –

• All industry activity index is up 2.1 percent from a year ago.

Commentary –

• The yen remains downbeat on the lack of risk aversion, however, it is finding support around 111.6 area.

USD/CHF –                         

Trading at 0.974

Trend meter –

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

Support –

• Long term – 0.92, Medium term – 0.95, Short term – 0.95

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.98

Economic release today –

• NIL

Commentary –

• Franc is the best performer of the week but still down against the dollar.

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