Forex Morning Briefing
$DXY, $EUR, $GBP, $JPY, $AUD
Commentary: Nothing new. PE
The US Dollar (.DXY) Index at 94.76 seeing some resistance 94.85, which could produce a dip. If it crosses 94.85, then it could again test 95 yet this week
Note: The US CPI data release today would be important stronger than expected CPI inflation would strengthen .DXY.
EUR (Euro) at 1.1672 the 1.167-1.165 is a strong support zone.
Note: The ECB mins’ release will be Key. as it could drive strength into the single currency if it turns out Hawkish.
USD/JPY at 112.26 breached Key resistance at 112 and now looks Bullish to 114.0-114.5.
Note: If US CPI beats expectations Thursday, the rise to 114 could be fast.
EUR/JPY at 131.05 broke the 21-Wks MA at 130.28, and Bullishness to 135 is on the cards. Bullish projections for EUR and the unexpected Bullishness in USD/JPY support the view of a move to 135.
Sterling (GBP) at 1.3197 moved lower, and could continue to 1.31 in here.