2017.04.1907:27:00UTC+00Currency Snapshot (major Pairs)

Dollar index trading at 99.60 (+0.10%)

Strength meter (today so far) – Euro +0.00%, Franc -0.01%, Yen -0.35%, GBP +0.04%

Strength meter (since last week) – Euro +1.10%, Franc +0.79%, Yen -0.34%, GBP +2.88%

EUR/USD –

Trading at 1.073

Trend meter –

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

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 –

• Consumer price inflation grew 1.5 percent y/y in March.
• Trade balance came at €19.2 billion in February.

Commentary –

• The euro is up on weaker dollar but still trading within range.

GBP/USD –

Trading at 1.285

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 1.16, Medium term – 1.23, Short term – 1.27

Resistance –

• Long term – 1.32, Medium term – 1.305, Short term – 1.305

Economic release today –

• NIL

Commentary –

• The pound is the best performer of the week so far on surprise election announcement. We expect the pound to reach parity in the longer run.

USD/JPY –           

Trading at 108.9

Trend meter –

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

Support –

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

Resistance –

• Long term – 119, Medium term – 115, Short term – 112

Economic release today –

• March trade balance report will be released at 23:50 GMT.

Commentary –

• The yen is the worst performer of the week as it gives up some of the grounds gained last week.

USD/CHF –        

Trading at 0.996

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 –

• NIL

Commentary –

• Franc is once again moving in line with the euro.  Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14