Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: This is crucial mark in most currencies. There is the chance that the current USD’s strength could see a correction/ reversal next month. This become bigger if certain Support and Resistances hold. PE
Note: The US Dollar .DXY Index is up 0.5% at 95.62 5 consecutive losing sessions. .DXY finished Wednesday’s session just above its 50-Day MA at 95.01 and began climbing Thursday overnight. The USD faded during the European session, but resumed its rally in late-morning trade Thursday and into the close. Thursday’s advance has been broad-based with USD climbing against major and emerging market currencies. PE
In Asia Friday
The US Dollar (.DXY) Index at 95.59 is now trading in the resistance zone at 95.5-96.0, a clear break of 95.98 could drive it to 97 next wee, then higher to 97.5, 97 to 98 is major resistance, which if .DXY respects it could bringa reversal medium term.
EUR (Euro) at 1.1553 is trading to support at 1.1550-25. A fall below 1.1500 may push the single currency down to 1.1400 where the is some medium-term Support.
USD/JPY (Dollar Yen) at 111.40: The pair has risen above resistance on dailies at 110.75-111.00). And now may see a rise to 112-113 in the next week.
EUR/JPY (Euro Yen) at 128.70: The pair’s rise above the 21-Day MA indicates Bullishness to 130 with a test at 130 some time during next week.
Sterling (GBP) at 1.2813: The Great British Pound has moved off resistance at 1.294 to 1.28. A fall to 1.27-1.26 is likely during next week.
USD/CNY (Dollar Yuan) at 6.8861: Weakness in JPY and AUD is being reflected in weakness in RMB Yuan at 6.8876 too. Watch Resistance at 6.8935-50 over Friday-Monday. If that holds, see USD/CNY topping in here.
Have a terrific weekend
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