Forex Morning Briefing
$DXY, $EUR, $JPY, $GBP, $AUD
Commentary: USD support at 88.5 held, seeing some strength in here. PE
US Dollar (.DXY) Index at 89.602 tapped resistance level on the 3 day candles near 90 Tuesday. DXY is currently below that resistance, but could well test it again in here. The next target could near 91 on the weekly lines.
EUR (Euro) at 1.2386 saw a low of 1.2314 Tuesday as .DXY tested at 90. Now may move to 1.2275 by early next week. Let’s see.
USD/JPY at 109.39 rose on USD strength after tapping 108.5 Tuesday. It would be interesting to see if the 21-Day MA on the daily lines at 110.50 is major resistance on this move North.
EUR/JPY at 135.47 marked a low near 134 Tuesday as the single currency dipped to 1.23 Vs USD. It may move sideways in here or retest 134 if the EUR comes back to 1.2275-1.23 in here.
Sterling (GBP) at1.3963 may test support at 1.36-1.37 in a week or so, as it has seen 3 days running of downside action.