Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs

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

Commentary: Nothing New. PE

The US Dollar (.DXY) Index at 97.27 Wednesday’s low to recover a bit but the corrective bounce can reach 98.30 at best if it manages to break and hold above the interim resistance at 97.45. My Southside target of 96.50-00 is unchanged.

EUR (Euro) at 1.1196 seeing a normal correction, while the larger uptrend remains intact. This pullback can take it to 1.1100-1.1075 where new buying can be expected.

USD/JPY at 111.56 stable and not been able to break above 112 in the last 3-sessions, while trading  above major support at 110, there is room for an move towards 114.0-114.5 medium term. See sideways consolidation for a few sessions before any directional move is seen.

Sterling (GBP) at 1.28890 trading above support near 1.2865, while that holds, a rise towards 1.32 cannot be ruled out. The Southside could be limited to 1.2750 in the next few sessions, while a move towards 1.3250 is possible.

AUD (Aussie) at 0.7432 trading lower and could possibly come off to 0.74 or a bit lower near term.

Have a terrific Memorial Day weekend to all of our American readers.

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