2017.03.2207:32:00UTC+00Currency Snapshot (major Pairs)

Dollar index trading at 99.87 (+0.12%)

Strength meter (today so far) – Euro -0.22%, Franc -0.04%, Yen +0.10%, GBP -0.30%

Strength meter (since last week) – Euro +0.57%, Franc +0.40%, Yen +1.00%, GBP +0.43%

EUR/USD –

Trading at 1.079

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 –

• Current account balance In January declined to just €2.5 billion.

Commentary –

• The euro is likely to move higher as the dollar remains battered.

GBP/USD –

Trading at 1.244

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 –

• UK sold 30-year bond at 1.787 percent.

Commentary –

• The pound is testing 1.25 resistance area. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 111.4

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 –

• All industry activity index rose by 0.1 percent in January.

Commentary –

• The yen is the best performer on weaker dollar and risk aversion. Active call – Yen likely to reach 120 as key support broken.

USD/CHF –        

Trading at 0.993

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 –

• SNB will release quarterly bulletin at 14:00 GMT.

Commentary –

• Franc is looking to test key resistance around 0.98 area. It is up in line with the euro.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14