Currency snapshot (major pairs)

Dollar index trading at 95.83 (-0.22%)

Strength meter (today so far) – Euro -0.22%, Franc -0.22%, Yen +0.04%, GBP -0.23%

Strength meter (since last week) – Euro +1.93%, Franc +1.53%, Yen -0.54%, GBP +1.62%

EUR/USD –

Trading at 1.141

Trend meter –

• Long term – Range, 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 (broken)

Economic release today –

• Consumer price inflation rose by 1.3 percent in June.

Commentary –

• Active Call: Buy Euro targeting 1.16

GBP/USD –

Trading at 1.298

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 (broken)

Economic release today –

• 1st quarter GDP grew by 2 percent.
• Current account deficit widened to 16.89 billion pounds.

Commentary –

• Hawkish BoE pushing pound higher. We remain bearish in the pound over a longer horizon.

USD/JPY –           

Trading at 111.9

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 (broken)

Economic release today –

• Vehicle production rose by 5.5 percent y/y in May.
• Housing starts declined by 0.3 percent in May from a year ago.

Commentary –

• The yen started responding to the Dollar weakness, as equities decline.

USD/CHF –

Trading at 0.958

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 –

• KOF leading indicator improves to 105.5 in June

Commentary –

• Franc is up in line with the euro this week.

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