Forex Morning Briefing
Commentary: USD consolidating. PE
The US Dollar (.DXY) Index at 90.176 is consolidating around 90.20 and could move to resistance at 90.5-90.75 on the daily.
EUR (Euro) at 1.2281) seeing strengthening since Friday when it marked a low at 1.2206. It might again attempt a test of support at 1.220-1.225 this week.
USD/JPY at 108.70 saw a low of 108.05 Friday, as it broke 1st support near 108.5 and testing support, 108.0-108.5 are strong support, and USD/JPY could bounce from here to resistance near 110.5-111.0 on the weekly lines in the next 1-2 weeks.
EUR/JPY at 133.60 is above support near 133 on the daily. See there is major support by horizontal trend lines on the daily and 3-Day candles near 131.5-132 that are holding. May see EUR/JPY move to 134 in the coming sessions, as JPY could weaken Vs USD, as compared to EUR in this week.
Sterling (GBP) at 1.3846 is trending South after seeing 2 days of consolidation near 1.39. It marked a low of 1.3765 Friday and could test support at 1.37 this week.