Forex Marketz Daily Forex News – Fully Markets Update
USD/JPY ($102.265)
The U.S. Dollar (USD) is trying to strengthen against the yen (JPY) after falling like a stone last week. We are getting short term support near 101.80. If we see a move below that, along with a daily close opens the doors for 101.50. Below that can test the round figure at 100 then 99.50.
If the Dollar continues to push higher, a break back above the congestion area from 102.30/35 can test 102.60 then 102.95. Above that lies 103.10. We need to break that level for any type of bullish run for 104 and higher.
EUR/USD (1.3374)
The Euro continues to decline, as we expected. Yesterday’s, attempt to push higher stalled out and we remain below the resistance at 1.3450. At this point we expect to test the key support level at 1.3210 at some point. We would need a fall back below 1.33460 for this to happen.
Alternatively, a move back above 1.3450 would indicate a bottom has formed and we could see a run back for 1.35 and then 1.3501/02.
USD/CHF (0.90735)
The USD is still trying to get a handle with its recent gains as the USD/CHF pushed below the key support level of 0.91 last week. We had expected this move as the RSI had moved below the signal line, indicative of a pullback.
We see short term support near 0.9055 with a break below that testing 0.9020 then 0.9018 and lower. Should the Dollar lose ground, a push above 0.91, once again sees a minor resistance around 0.9110. A beak from there can move the USD/CHF higher to 0.9190.
