Forex Morning Briefing, Major Pairs
$DXY, $EUR, $JPY, $GBP, $AUD, $CNY
Commentary: Nothing New. PE
US Dollar (.DXY) Index at 93.23 failed to crack 94.00 Thursday, dipping from a high of 93.67. Friday may be ranged with 93.00-93.50.
EUR (Euro) at 1.1780 saw a high at 1.1804 Thursday, may range with 1.1740-1820 Friday. For a few days the market will pause to decide, whether it wants to push the single currency lower to 1.1665 or not.
USD/JPY at 112.67 came off from an intra-day high of 113.21 Thursday, which might establish 113.50 as Major resistance. An intra-day fall and close below 112.40-30 will encourage this.
EUR/JPY at 132.70 consolidated Thursday. Look for a fall to 131 next week.
Sterling (GBP) at 1.3410 saw selling when it rallied to 1.3455 Thursday. Friday is likely to be quiet between 1.3440-3365. The bigger picture, the up-move since 1.1985 may have ended.
AUD (Aussie) at 0.7841 marked a low of 0.7800 Thursday, but did not carry further down to target of 0.7750. Friday might be quiet trade within 0.7875-15.
USD/JPY at 6.6760 continues to rise but may find some resistance, and run into profit-taking near 6.70.
Have a terrific weekend.
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