Forex Morning Briefing
$DXY, $EUR, $JPY, $GBP
Commentary: USD weakness persists . PE
The US Dollar (.DXY) Index at 93.279 marked a high of 93.49 Tuesday and closed at 93.32, just above resistance on the daily. .DXY is currently trading at levels around 93.28 and could move up to resistance at 93.75-93.80 on the 3 day, while it stays above 93.20.
EUR (Euro) at 1.1830) broke support at 1.185 on the daily to close at 1.1825 Tuesday, and is currently trading around 1.1830. While the single currency stays below 1.185, it could come off to 1.1775-1.18 to test support on the 3 day charts soon.
USD/JPY at 112.24 dropped on the back of a sharp rise in Japanese 10 yr yields. However, it is likely to maintain its rise to near 112.75-113 this week.
Sterling (GBP) at 1.3429 dropped from Tuesday’s high at 1.3482 and is moving to support near 1.335 on the daily, looking set for range-wise oscillation between 1.335 and 1.35 for few days before it moves to and beyond 1.35.