Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: USD and EUR are moving against our expectatona in here. PE
The Dollar (.DXY) Index at 95.15: .DXY dipped Monday after marking a high 95.52 on the day. .DXY has support at 94.8, 21-Day MA, and 94.5 the trendline support. A test of 94.8 would align the EUR’s testing 1.165-1.167, and a test of 94.5 correspond to EUR’s testing at 1.17. While .DXY trades above 94.8-94.5, I see another move to 95.5, then to 96 over the next several sessions.
EUR (Euro) at 1.1603): The Euro bounced from support at 1.153 Monday, to1.16. It could run up to 1.167 Tuesday. 13-Wk MA is resistance at 1.167. If the single currency comes off from 1.165-1.167, then there could be a break below 1.153-1.151 in here, or a clear break above 1.167 augurs a test at 1.17 soon.
USD/JPY at 111.37: The pair found support 111 on daily, and it is holding. While the pair trades above 110.59, seeing it setting up for a move to 113+.
EUR/JPY at 129.24: The pair moved up Monday from 128.60 to 129.20-30 due to EUR’s rise. Perhaps, the pair could move to test the 13 and 21-Day MA at 129.60-130.20 this week. and then resume its move to support at 127.5 on daily line next week.
Sterling (GBP) at 1.2937: GBP is seeing stable movement at 1.294-1.298. But, GBP did break below important long term support on weekly at 1.3050, the trend is Bearish and a test of support on daily 1.290-1.288 can occur in here.
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