Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: .DXY broke 93, a mark I thought was strong resistance.PE

The US Dollar (.DXY) Index at 93.05 is trading above 93, a mark I thought would not break easily. A high of 93.29 was seen Tuesday and a further rise to 93.50-94.00 is possible.

EUR (Euro) at 1.1790 has broken below 1.1800 and can see further decline to 1.1750-10 in a frame that could extend to next week.

USD/JPY at 112.38 bounced Tuesday on USD strength, suggesting the range of 110.50-113.00 mentioned Tuesday has merit.

EUR/JPY at 132.50 moved up with USD/JPY, but has Key resistance at 133.00-50.

Sterling (GBP) support at 1.3430-00 held on 1st test Tuesday, but could be vulnerable to a break. If that happens, a fall to 1.3315-3265 is seen.

AUD (Aussie) at 0.7872 disappointed, it was not able to hold above support at 0.7900, so it brings up chances of a decline to 0.7750 in here.

USD/CNY at 6.6346 continues to rise, targeting 6.65 next.

Stay tuned…

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