Forex Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: Nothing new. PE
The US Dollar (.DXY) Index at 93.7 and bounced. The 34 days MA near 94.3 is next resistance. But, my preference is a move South to 93.44 in here.
EUR (Euro) at 1.1752 at rose to 1.179 Monday but faded to 1.175. There is support at 1.173-1.174, after test there the single currency may bounce to 1.18. There is Major resistance 1.181-1.182, a clear break there is Very Bullish EUR.
USD/JPY at 111.02 moved up from 110.5, see it restricted 111.0-111.5 by long term resistance. A clear break below 110 is necessary for Bearishness, that can happen next week.
EUR/JPY at 130.49 the pair has gone up 130-131 on the back of Bullishness USD/JPY. See EUR/JPY dipping next week. If USD/JPY breaks above 111.5, then the Bearish view comes back to EUR/JPY.
Sterling (GBP) 1.3250 marked a high of 1.3363 Monday and faded. While above 1.3250 GBP could break 1.33 again. A clear break of 1.3250 see 1.31-1.30. Political instability in the UK could add to Sterling’s weakness.