Currency snapshot (major pairs)

Dollar index trading at 97 (+0.19%).

Strength meter (today so far) - Euro -0.45%, Franc -0.23%, Yen +0.04%, GBP +0.50%

Strength meter (since last week) - Euro -0.29%, Franc -0.11%, Yen -0.05%, GBP -0.35%

EUR/USD -

Trading at 1.102

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 worst performer today and this week so far. Divergent monetary policy is back in focus, pushing Euro down.

GBP/USD -

Trading at 1.565

Trend meter -

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

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 CPI rose by 0.1% y/y in July. Core CPI jumped sharply to 1.2% y/y from 0.8% in June.

Commentary -

• Pound is the best performer today, however bulls failed at key resistance of 1.572. Better than expected inflation data provided the necessary boost.

USD/JPY -                      

Trading at 124.4

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.

Economic release today -

• Preliminary reading showed -.0.04% contraction in second quarter.

Commentary -

• Yen is trading in small range with low volatility. Yen might lose to 127 against dollar if support around 121 holds.

USD/CHF -                                                                                         

Trading at 0.976

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.90, Short term - 0.95

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987

Economic release today -

• NIL

Commentary -

• Pair is consolidating below key resistance of 0.985 area. Marginally down this week.