Currency snapshot (major pairs)

Dollar index trading at 97.21 (-0.04%)

Strength meter (today so far) – Euro +0.61%, Franc +0.58%, Yen +0.12%, GBP +0.17%

Strength meter (since last week) – Euro +0.51%, Franc +0.59%, Yen -0.84%, GBP -0.16%

EUR/USD –

Trading at 1.125

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• ECB President Draghi said the deflationary pressure has been replaced by reflationary pressure.

Commentary –

• The euro is up on hawkish comments from ECB President Mario Draghi.

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 –

• NIL.

Commentary –

• The pound remains weak on political uncertainties. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.7

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 –

• NIL.

Commentary –

• The yen is testing key support around 111.6 area.

USD/CHF –        

Trading at 0.967

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 the best performer than the week.

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