Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: USD and EUR moving as expected in here. PE
The Dollar (.DXY) Index at 95.314: The Dollar Index saw a high at 95.52 Monday day and could move higher to resistance on daily line chart at 96.0-96.2 some time next week. Recall that it broke the 95 mark last week, and now the weekly line chart indicates it could remain Bullish in the near to medium term in here.
EUR (Euro) at 1.1561: The single currency, as per mys expectation moved lower on Monday, marking a low at 1.1530. The prior low at 1.1508 and the support at 1.145 on 3-Day Line are important marks that could bring on a bounce. A clear break below those marks would make the single currency Bearish to lower support marks at 1.135-1.130 as seen on the weekly lines.
USD/JPY (Dollar Yen) at 111.32: Dollar Yen continues to hang just above support at 111, the action is quiet. And, while above 111, an uptrend to major resistance 113-114 is possible in the balance of this month.
EUR/JPY (Euro Yen) at 128.69): Euro Yen looks Bearish to support at 127.5 on the daily line, and could test it very soon. USD/JPY’s move to 1.145 could help the pair test 127.5. The important support at 127 on the weekly line would have to breakdown below 127 for the pair to turn Bearish medium term.
Sterling (GBP) at 1.2944) The Great British Pound moved lower Monday as expected, Marking a low 1.294. With that action it could now see a test of support at 1.290-1.288 sometime during this week.