Dollar index trading at 99.85 (-0.51%)
Strength meter (today so far) – Euro +0.66%, Franc +0.37%, Yen +0.09%, GBP +0.83%
Strength meter (since last week) – Euro +0.74%, Franc +0.19%, Yen +0.01%, GBP +0.56%
EUR/USD –
Trading at 1.081
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support
- Long term – 1.032, Medium term – 1.05, Short term – 1.06
Resistance –
- Long term – 1.09, Medium term – 1.085, Short term – 1.085
Economic release today –
- Eurozone finance ministers are meeting in Brussels.
Commentary –
- The euro is racing higher after breaking a key resistance around 1.07 area.
GBP/USD –
Trading at 1.246
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – range/sell
Support –
- Long term – 1.16, Medium term – 1.2, Short term – 1.2
Resistance –
- Long term – 1.32, Medium term – 1.27, Short term – 1.25
Economic release today –
- RPI is up 1.1percent in February, up 3.2 percent y/y.
- House price index up 6.2 percent y/y in February.
- Producer price index is up 3.7 percent y/y in February.
- PPI core output is up 2.4 percent y/y.
- Producer price index input is up 19.1 percent y/y.
- Consumer price index up 2.3 percent y/y.
- Core consumer price index is up 2 percent y/y.
- Public sector net borrowing in February came at £1.1 billion.
Commentary –
- The pound is heading to test 1.25 resistance area. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 112.5
Trend meter –
- Long term – Sell, Medium term – Range/ Buy, Short term – Range/Buy
Support –
- Long term – 107, Medium term – 109, Short term – 112
Resistance –
- Long term – 121, Medium term – 119, Short term – 115
Economic release today –
Commentary –
- The yen strengthened further on weaker dollar, now positive against the dollar. Active call – Yen likely to reach 120 as key support broken.
USD/CHF –
Trading at 0.995
Trend meter –
- Long term – Buy, Medium term – Range/Buy, Short term – Range
Support –
- Long term – 0.95, Medium term – 0.95, Short term – 0.98
Resistance –
- Long term – 1.08, Medium term – 1.037, Short term – 1.037
Economic release today –
Commentary –
- Franc is looking to test key resistance around 0.98 area. Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14