Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: USD gathered strength and a pause after the 3-Day rally, it may rise further which implies weakness for the majors peers. PE

US Dollar (.DXY) Index at 99.43 broke above the resistance, signaling a near term Bullish reversal which may take it to 100.00-50 after the current correction ends by 99.25-00.

EUR at 1.0894 broke support at 1.0880 before a minor recovery and now more Southside may be pending, with the possibility of sideways consolidation negated. The current bounce may be limited to 1.0940-60 from where the next rejection may come for the Southside target at 1.0800. l

USD/JPY at 113.77 marked a high at 114.33 so far, close to target at 114.60, the higher targets of 114.60-115.00 may be achieved if it manages to stay above support at 113.30-10. Bias is Bullish till 113.10.

Sterling (GBP) at 1.2946 in a sleep mode though the Bullish momentum is still intact, 1st resistance is modified to 1.3030 and support comes up at 1.2900 and 1.2850. Bias remains Bullish with a possibility of horizontal trading in 1.2850-1.3050 near term.

AUD (Aussie) at 0.7356 continues on it Southside with the Northside limited to 0.7430 this week. Target unchanged at 0.7300.

Stay tuned…

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