Forex Morning Briefing
$DXY, $EUR, $JPY, $GBP, $AUD, $CNY
Commentary: USD Still Under Pressure. PE
EUR (Euro) at 1.1817 broke above the down channel seen in the 3-day and weekly candle. While trading above 1.1780-1.1800, there is room of testing higher at 1.1850-1.1900 before again coming off to 1.17 or lower medium term.
USD/JPY at 112.50 could test 112.00-111.60 if it does not bounce back from current marks Friday. Decent support is visible here, but that will have to hold to drive price back to 113.00 and higher.
EUR/JPY at 132.92 is trading within 134-131, and is right in the middle of the channel now. While resistance near 134 holds, price may come off to 131 soon.
Sterling (GBP) at 1.3236 is targeting 1.3250-1.3300 in the coming sessions from where a sharp rejection back to 1.32 or lower is possible.
AUD (Aussie) 0.7593 sees 1st support at 0.7560, while that holds, the price could start moving up to 0.7622-0.7650. Failure to sustain above 0.7560 could push it lower to test 0.75.