Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary:Nothing new. PE

US Dollar (.DXY) Index at 99.74 is hanging around its pivot at 99.80 of its trading range of 98.80-100.75. If .DXY breaches its pivot then see 100.45-80 within 3 to 5 trading sessions.

Euro at 1.0716 was rejected from resistance near 1.0770 Thursday. See a pause in Euro today trading within the 1.0770-1.0680 region. Looking at the German-US 10-yr yield spread could be that further upside for EUR could be limited in here.

Sterling at 1.2799 in a pause mode after the recent sharp rise from levels near 1.25. May see range trade within 1.2750-1.29 for the next 2-sessions. 1.29 may act as some resistance in here.

Dollar/Yen at 109.215 could test 109.50-110.08 before dipping back to 109-108.5  again. Overall some sideways consolidation in the cards for the coming sessions.

Aussie at 0.7526 could move up towards 0.760-0.761 in the next 2-3 sessions before another rejection, and coming off towards 0.7450. The 0.76-0.7450 may hold for a few more sessions.

Have a terrific weekend.

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