Forex Major Pairs Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary:The Turkish Lira at 6.9891 dove 18 % Friday as US President Trump’s announcement of tariffs on metal exports from Turkey rattled the delicate situation in the Turkish economy. This crash has weakened most majors, except the JPY Vs USD. And now after a week of hammering is is beginning to consolidate just below 7 at 6,875, and the technical suggest Lira can move higher. implying that RMB Yuan, EUR, Sterling, and some emerging market currencies could weaken Vs USD. PE
The major pairs at the close in the US Monday 13 August
- EUR/USD: -0.12% to 1.1398
- GBP/USD: -0.04% to 1.2760
- USD/JPY: -0.10% to 110.70
- USD/CNY: +0.62% at 6.888
- USD/TRY: +9.03% at 6.999
- AUD/USD: -0.48% to 0.7265
In Asia Tuesday
US Dollar (.DXY) Index at 96.295: .DXY is seeing some consolidation after tested 1st resistance at 96.5. While .DXY trades above 95.7-95.5, it could move up to 97 during this week, which aligns with the Euro testing down to 1.13.
EUR (Euro) 1.1410: Support for the single currency is holding and consolidating around 1.1360 in here. A rise above 1.1450 is needed to signal direction. While EUR trades below 1.145, a test of support on weekly line at 1.13 can happen within this week.
USD/JPY (Dollar Yen) at 110.78: The pair is trading just below overhead resistance on dailies att 111. While it trades below this mark, a dip to 109.5 is possible during this week. A rise above 111 could open up at test at 113 medium term.
EUR/USD (Euro Yen) at 126.40): The pair marked 125 Monday. Continued Bearishness pauses on a rise 127. While the pair trades below 127, a fall to 124.0-123.5 may occur this week or early next.
Sterling (GBP) at 1.2768: The Great British Pound broke important support 1.28, and now could drop to 1.270-1.265 in the next 3+ sessions. Then Bearishness could extend South to support at 1.25-1.22.
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