Forex Morning Briefing
$DXY, $EUR, $JPY, $GBP, $AUD
Commentary: Seeing some strength ahead for USD. PE
The US Dollar (.DXY) Index at 89.95 has risen past resistance at 89.8 and could now test at 90.00-90.25, after which it could dip back to 89.50-89.25.
EUR (Euro) at 1.2340 is testing at 1.233-1.235 and could dip lower to support near 1.23. A clear break of 1.23 could be Very Bearish. My preference is for the Key support to hold, leading to a bounce back to 1.24 and higher.
USD/JPY at 107.65 continues rising after testing 107.0-106.9 early this week and could move back to 107.78. It needs to be seen if the pair turns Bearish off its prior high or moves to resistance 109 as seen as 21-Wk MA on weekly lines.
EUR/JPY at 132.84 has stayed below resistance 133. This important resistance could be broken if the pair continues to 109 and EUR bounces to 1.24. The maximum upside for the pair near term could be 135-138, then it could turn Bearish.
Sterling (EUR) at 1.408 dipped to test support at 1.410, after testing major resistance near 1.43-1.435. If it breaks support, there is lower support on 1.40 on the daily candles, and there is important long term support at 1.38-39 on the weekly lines, that break could make GBP Very Bearish. If current support near 1.41-1.40 holds, Sterling may attempt a move to 1.46
Have a terrific weekend.
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