Currency snapshot (major pairs)

Dollar index trading at 95.27 (+0.16%)

Strength meter (today so far) – Euro -0.05%, Franc -0.23%, Yen -0.12%, GBP -0.18%

Strength meter (since last week) – Euro -0.05%, Franc -0.23%, Yen -0.12%, GBP -0.18%

EUR/USD –

Trading at 1.145

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 (testing)

Economic release today –

• CPI inflation is up 1.3 percent y/y in June and core CPI is up 1.2 percent y/y.

Commentary –

• The euro is likely to rise further against the dollar. Active Call: Buy euro targeting 1.19

GBP/USD –

Trading at 1.308

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 (testing)

Economic release today –

• NIL.

Commentary –

• The pound rose sharply on Friday but bearish outlook maintained.

USD/JPY –           

Trading at 112.5

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

Economic release today –

• NIL

Commentary –

• The yen is benefiting from dollar’s weakness.

USD/CHF –

Trading at 0.964

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 worst performer today.

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