Forex Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: .DXY strengthened, EUR weakened. PE
The US Dollar (.DXY) Index at 94.62, support for .DXY 94.1-94.2 held Tuesday and it is now bouncing to 95.0-95.5.
EUR (Euro) 1.1655 came down from resistance at 1.1720-50 Tuesday. It may break below support at 1.1650-30 yet this week, which would make it Very Bearish. But, if the single currency moves up and breaks 1.1750, it could be headed to 1.185.
USD/JPY at 109.94 rose to 110, thus negating it’s prior break of support on the daily candle. Perhaps a test at 110.50-110.75 comes and the the Bearish turn.
EUR/JPY at 128.14 is respecting support 127.5, and resistance 129.5-130.0 in here, watch if for direction.
Sterling (GBP) at 1.3226 is trading midway in the downward channel on daily and 3-Day candles. It could move North to test resistance at 1.335 or South to test support at 1.31. Watch it for direction for the next week or 2.