Forex Morning Briefing
$DXY, $EUR, $JPY, $GBP, $AUD
Commentary: Some very strong bets are being tested given the market has been focused on stronger EUR, GBP and JPY story-lines for some time. This current USD move will either prove to be a brilliant opportunity to rejoin the battle aka short USD trade or a super moment for USD Bullish contrarians. PE
Current level – 1.2305
The slide through 1.2380 confirms the bearish bias, for a break through 1.2280 dynamic support to 1.2240.
Key resistance is seen at 1.2380.
Current level – 106.67
The bias is positive after the break though 105.90, for a rise to 107.90.
Key support is seen at 105.90.
Current level – 1.4042
With the recent break through 1.4075 support the outlook remains Bearish, for a move to 1.3910. Initial intra-day resistance lies at 1.4130.
Have a terrific Easter weekend.