Currency snapshot (major pairs)

Dollar index trading at 96.14 (+0.12%)

Strength meter (today so far) – Euro -0.02%, Franc -0.39%, Yen -0.32%, GBP -0.08%

Strength meter (since last week) – Euro -0.02%, Franc -0.39%, Yen -0.32%, GBP -0.08%

EUR/USD –

Trading at 1.139

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 –

• Sentix investor confidence marginally declines to 28.3 in July.

Commentary –

• The Euro is down marginally to start the week. Active Call: Buy Euro targeting 1.16

GBP/USD –

Trading at 1.287

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 –

• BRC retail sales report will be published at 23:00 GMT.

Commentary –

• The pound is under selling pressure as data continues to underwhelm. We remain bearish in the pound over a longer horizon.

USD/JPY –           

Trading at 114.2

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 111

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2 (testing)

Economic release today –

• Eco Watchers’ survey and current improve to 50 in  June.

Commentary –

• The yen remains weak on lack of risk aversion and monetary policy divergence.

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 –

• Consumer price declined by 0.1 percent in June, up 0.2 percent from a year ago.

Commentary –

• Franc is the worst performer of the day.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest