Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP, $AUD

Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 94.05 has near term channel support near 93.50/60, while that holds, the Southside looks limited in ere. While trading above 93.50/60 .DXY could move up towards 94.50-95.00 soon. Near term looks Bullish to me.

EUR (Euro) at 1.1735 could come off to 1.1700 where major support could push it back to near 1.175-1.180, preventing a fall to 1.1650. Either the price breaks below 1.17 to open up 1.1650-1.1620 or bounces back from 1.17, targeting 1.18 medium term.

USD/JPY at 112.538 moved up after testing 111.88. While there is some room in the US-Japan 10yr yield spread at 2.33% to rise to 2.36%, some rise in Dollar/Rupee is possible near term with an eventual fall to 111.

Sterling (GBP) at 1.3246 is headed to 1.33 as expected. Near term looks Bullish to me.

Note: A rejection from 1.33 or slightly higher is expected medium term.

AUD (Aussie) at 0.7538 has surprised by trying to break below immediate support. But while trading above 0.75, there is still some hope of a bounce to 0.76-0.77 soon.

Stay tuned…

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