Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: USD trading lower and EUR is moving higher, both towards there respective support and resistance in here. PE
The Dollar (.DXY) Index at 95.15: ,DXY could move lower to 94.8, its 21-Day MA over the rest of this week. If .DXY breaks below 94.8, the trendline support is at 94.5, which should hold in here, leading to a move to 95.5 sometime next week.
EUR (Euro) to 1.1614: The single currency could rise to 1.165-1.167 over Thursday and Friday. The next resistance is seen at 1.165-1.167, the 21-Day MA and 13-Wks MA, which may lead to a dip to 1.155 next week.
USD/JPY (Dollar Yen) at 110.78: The pair broke below support at 111. The 21-Day MA on the 3-Day line is 110.65 may provide interim support now. While the pair trades above 110.59, it can move up to 112 in here. A clear break below 110.59 may make USD/JPY Bearish to 109.49 very soon.
USD/JPY (Euro Yen) at 128.66: The pair looks Bearish to support at 127.5-127.0, as seen on the daily line and 3 day candle, and could test there next week. The Northside could be capped at 129.5 by the 13-Day MA.
Sterling (GBP) at 1.2880: The Great British Pound moved down to test support at 1.285 on the daily candles. It could very well see a rise to 1.30 in the next few sessions before resuming the current downtrend. An clear break below 1.285 now, could now negate a Northside move back to the 1.30 mark.