Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Seeing continuing weakness ahead for USD. PE

The US Dollar (.DXY) Index at 89.51 marked a low at 89.23 Tuesday testing support at 89.25, and now see 89.8 as 1st resistance. Higher resistance is at 90.0-90.5, if it marks there will produce a dip.

EUR (Euro) at 1.2377 saw a high at 1.2414 Tuesday testing to resistance near 1.2400-1.2420 on the daily lines, faded to close at 1.237 and continues to hang there. The next support is near 1.233-1.235.

USD/JPY at 107.25 marked a low at 106.88 Tuesday breaking below 1st support, but closed just above 107 and is currently trading at 07.2-107.3, the pair could dip to below 107 and turn Bearish near term. If that occurs, see target to 106.5 soon.

EUR/JPY at 132.74 seeing resistance 133. The range is likely to be between 133-132 as USD/JPY could fall below 107, while EUR could dip to 1.235.

Sterling (GBP) at 1.43 will see resistance at 1.43-1.435, this is an important mark, as a clear break there  implies Bullishness to 1.45-46 medium term.

Stay tuned…

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