Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP, $AUD

Commentary: USD struggling. PE

The US Dollar (.DXY) Index at 90.573 is holding below 91 as the US government shutdown hobbles any strengthening of the Buck. Currently, I expect .DXY should respect support near 90.4-90.5 as seen on daily lines and try moving up to resistance near 91.5-92 on the budget resolution.

EUR (Euro) at 1.2230 staying above 1.22, seeing a high of 1.2295 Friday. Expect the single currency to range between 1.21 to 1.2330 for few more sessions, then may attempt to move North.

USD/JPY at 110.79 has come down below 111 instead of rising to 112. Expect the pair to respect support near 110.5 on the 3 day candles and make another attempt at a rise to 112, while it holds above this support, and, while .DXY stays above 90.4-90.5.

EUR/JPY at 135.51 has come off a high near 136.05 along with the drop in USD/JPY, signifying some interim JPY strength. Expect a slow move up before it tests resistance at 137 this week.

Sterling (GBP) at 1.3867) saw a low of 1.3839 on Friday which might suggest that it is struggling a bit to see a clear break of resistance 1.385, GBP is currently trading above 1.385, while it stays above the mark, it will attempt to move to resistance 1.41 this week.

AUD (Aussie) at 0.7993 had gone past 0.80 Friday, but faded a bit. A confirmation of breach of 0.80 would lead the Aussie to my next target of 0.82.

Have a terrific week.

 

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