Currency snapshot (major pairs)

Dollar index trading at 97.21 (-0.04%)

Strength meter (today so far) – Euro +0.08%, Franc -0.13%, Yen -0.31%, GBP +0.35%

Strength meter (since last week) – Euro -0.27%, Franc +0.05%, Yen -0.40%, GBP -0.36%

EUR/USD –

Trading at 1.119

Trend meter –

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

Support          

• Long term – 1.05, Medium term – 1.08, Short term – 1.11

Resistance –

• Long term – 1.16, Medium term – 1.143, Short term – 1.13

Economic release today –

• ECB President Draghi is scheduled to speak at 17:30 GMT.

Commentary –

• The euro is back testing the 1.12 once more.

GBP/USD –

Trading at 1.274

Trend meter –

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

Support –

• Long term – 1.21, Medium term – 1.24, Short term – 1.263

Resistance –

• Long term – 1.345, Medium term – 1.305, Short term – 1.283

Economic release today –

• BBA mortgage data will be published at 8:30 GMT.

Commentary –

• The pound started the week on a positive footing. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.6

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 109

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 111.6

Economic release today –

• Nikkei manufacturing PMI declines to 52 in June.

Commentary –

• The yen is testing key support around 111.6 area.

USD/CHF –        

Trading at 0.969

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

• NIL

Commentary –

• Franc is a relatively worse performer than the euro today.

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