Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: The US Dollar (.DXY) Index is lower by 0.2% at 95.01. .DXY slipped beneath the 50-Day MA in early Wednesday, came off its lows in the US. .DXY track it 5th straight decliner. USD saw afternoon selling after the FOMC Minutes from the August meeting acknowledged the presence of risks to trade, housing, and emerging markets. However, the FOMC appears comfortable with another rate hike in September. PE
The major pairs close on Wednesday in New York
- EUR/USD: +0.38% at 1.1615
- GBP/USD: +0.20% at 1.2928
- USD/CHF: -0.26% to 0.9821
- USD/JPY: +0.25% at 110.45
- USD/CNY: -0.07% to 6.839
- USD/CAD: -0.36% to 1.2992
- AUD/USD: -0.03% to 0.7362
In Asia Thursday
The US Dollar (.DXY) Index 95.40 bounced after testing support at 94.9 Wednesday. See resistance at 95.5-96.0, and only on a clear break of that will we see 97 in the days ahead.
EUR (Euro) at 1.1556 is testing trading lower after testing at 1.162 Wednesday. See support 1.1550-1.1525, a clear break there augurs a move to 1.14. Watch the release of ECB mins out Thursday.
USD/JPY (Dollar Yen) at 110.85: The pair is trading close to resistance at 110.75-111.00. On a break above 111, start looking at higher marks say 112-113, or a move back to 110.
EUR/JPY (Euro Yen) at 128.11: The pair moved up above the 21-Day MA at 128.05, indicating that it could stay Bullish to 130 into next week.
Sterling (GBP) at 1.2872; The Great British Pound tested important resistance at 1.293 Wednesday, seeing a dip to 1.27-1.26 next week.