Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: ECB rate fixing on Thursday, 26 October. PE

EUR (Euro) at 1.1760 rose to a high of 1.1793 in the US session Tuesday. The strength of the 1.1730-00 support is increasing.

USD/JPY at 113.90 rose Tuesday, negating the fall from 114.07 seen Monday. This is a surprise and might signal a test of long-term resistance at 114.50.

EUR/JPY at 133.88 has risen well with USD/JPY, and may be able to rise towards 135+ in here.

Sterling (GBP) at 1.3130 proved my Bearishness right, as the resistance at 1.3250 has held. Further selling in here could target 1.30 now, from where a short-term bounce is expected.

Contrary to expectation of Support at 0.7785, the

AUD (Aussie) at 0.7727 broke support at 0.7785 with force, surprising me. Some more support may be come at  0.7700. Need to see if that holds/ breaks over Wednesday and Thursday.

USD/CNY at 6.6419 is trading higher today and may surpass the psych resistance at 6.65%.

Stay tuned…

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