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 97.21 recovered some of the losses made in the prior 2 sessions on the back of better than expected American private hiring data, but the resistance of 97.40-50 may limit the bounce after the US Job data release Friday morning.

EUR (Euro) at 1.1217 is in pause mode after the sharp rally earlier this week and may resume the uptrend targeting 1.1300.

USD/JPY at 111.61 is moving towards the higher end of its near term range of 110-112, but the resistance near 112.00 is expected to hold in here. Wait for a breakout, as any attempt to gauge clues from the action may turn out deceiving.

Sterling (GBP) at 1.2874 is trading in the broader range of 1.2750-1.3000, and strengthening and this phase may extend into next week.

AUD (Aussie) at 0.7386 is  weak and a failure to end the week above 0.74 may push it down to 0.7325 next week.

Have a terrific weekend.

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