Currency snapshot (major pairs)

Dollar index trading at 96.1 (+0.49%)

Strength meter (today so far) – Euro -0.51%, Franc -0.54%, Yen -0.72%, GBP -0.47%

Strength meter (since last week) – Euro -0.51%, Franc -0.54%, Yen -0.72%, GBP -0.47%

EUR/USD –

Trading at 1.136

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 – 1.143

Economic release today –

• Markit Manufacturing PMI improves to 57.4 in June.
• Unemployment rate for May came at 9.3 percent.

Commentary –

• Active Call: Buy Euro targeting 1.16

GBP/USD –

Trading at 1.295

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 – 1.305

Economic release today –

• Markit manufacturing PMI declines to 54.3 in June.

Commentary –

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

USD/JPY –           

Trading at 113

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 –

• Nikkei manufacturing PMI improves to 52.3 in June.

Commentary –

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

USD/CHF –

Trading at 0.963

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 –

• Real retail sales declined by 0.3 percent in May from a year ago.
• SVME PMI improves to 60.1 in June.

Commentary –

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

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