Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: the USD reversed its gains ahead of the US Jobs data and the 2nd round of French election Sunday but the major trend is still not clear in here, but by Monday, clarity is expected. PE

The US Dollar (.DXY) Index at 98.82 lost all its gains made in the prior session after its failure to rise above the resistance at 99.50, 1st support comes at 98.50 below which comes Key support at 98.30-20 which may hold on the 1st test, then don’t know…

EUR at 1.00980 rose sharply as it tests the resistance zone at 1.0970-1.1000. A clear break above 1.10 may open up higher marks starting with 1.1100 but prefer to wait for the breakout to happen 1st.

USD/JPY at 112.58 stalling near resistance at 113.00 as expected, thought it is not clear yet if the resistance will be able to reject the price enough to trigger any big correction. Wait & Watch.

Sterling at 1.2918 bounced back exactly from support at 1.2830 and my 1st target of 1.3000 may be met in the next 1 to 3 sessions.

AUD (Aussie) at 0.7388 was hit hard. The currency has been testing support at 0.7380-70 for the last 2 sessions which must be protected by the Bulls for any chance of recovery in here. Failure to hold 0.7370 may open up 0.7300, but the chances of a bounce up cannot be discarded yet.

Stay tuned…

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