Forex Morning Briefing, Major Pairs
$DXY, $EUR, $JPY, $GBP, $AUD, $CNY
Commentary: A bit of slowdown in the Dollar’s up-move seen. PE
The US Dollar (.DXY) Index at 93.40 is down a bit Wednesday compared to 93.87 Tuesday, and EUR(Euro) at 1.1775 up from Tuesday’s 1.1707.
Perhaps some more USD strength is possible in here, the Key resistance is at 94.50, the 21-Week MA on .DXY, and support at 1.16, 21-Week MA on EUR, which are likely to hold.
USD/JPY at 112.65 was unable to rise beyond 113.20, thus stayed under my target of 113.50-60. It has been finding sellers above 113.00 daily over the last 4-5 days, so watch whether 113.50-60 will be tested or not. The chances of it holding has increased.
EUR/JPY at 132.59 looks Bullish on the 3-Day candles, with good trend support at 132.00-131.50 for now.
Sterling (GB) weak at 1.3265, while trading below 1.33-34. Medium-term target is 1.30, with 1st support/s at 1.3200-3150.
AUD (Aussie) at 0.7860 suggests to me that 0.7781, near the 21-Wk MA, may be good support. A test at 0.79 is possible near term.
USD/CNY at 6.6532 is stable a Tuesday’s mark, with chances of being ranged within 6.62-70 for some days ahead is possible.