Forex Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: Again, .DXY weakened, EUR strengthened. PE
The US Dollar (.DXY) Index at 94.90: Support for .DXY at 94.5-94.2 held well Monday as it is rising back to 95, and may see 95.2 Tuesday.
EUR (Euro) at 1.1632 the single currency has been ranged within 1.1508-1.1721 the 2 of weeks. The bias has been to the Southside and a dip below 1.16 could mark Tuesday. A clear break above 1.17 or a break below 1.15 is required for this ranging to stop and for a trend to begin.
USD/JPY at 110.92)break of resistance 110.75 is holding, and 111.40 is a important mark now. A breach of 111.4-111.5 would make the pair Bullish. But, 111.5 look like a strong resistance to me.
EUR/JPY at 129.04, the pair has stayed below resistance 129.5. Am expecting to see a gradual down-move to 128-127 yet this week
Sterling (GBP) at 1.3130 resistance at 1.315-1.3175 capping an up-move to 1.32-1.33 for GBP. If the resistance holds, then see a move to 1.3050, 1.30 is a Key mark for GBP, if it breaks lower, then medium term is seen Bearish, if it breaks 1.33 it turns Bullish.
Have a terrific 4th of July!