Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs

$DXY, $EUR, $JPY, $GBP, $AUD

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…

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.