Forex Morning Briefing

Forex Morning Briefing


Commentary: USD gained traction on positive signs of inflation. PE

.DXY at 92.267 moved up, and may to be on course to test 92.5-92.75 the near term resistance on the 3-Day candles and 3-Day lines.

EUR (Euro) at 1.1971 broke below 1.20, which could now move down to Key support near 1.19-1.195, as the .DXY moves to 92.5-92.75.

USD/JPY at 112.58 dip from resistance near 113-113.25, and may test support at 112.50 on the daily candles. This could prove Key support, which would see a break if .DXY goes back below 92, which it may very well do in here.

Sterling (GBP) at 1.3579 trades in the narrow range of 1.35-1.36, and we have have to wait for a couple of sessions to get directional clarity.

AUD (Aussie) at 0.7858 is paused here, beyond the 200-Day MA on the weekly lines, and should be ranged between 0.78-0.786 for the next 2-3 trading sessions.

Stay tuned…

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