Forex Marketz Daily Forex News – Fully Markets Update
USD/JPY (103.773)
The Dollar is nearing a five month peak after rallying this week. We have not seen this kind of rally since March. A move above ¥104 would be very positive and a daily close above ¥104.10 would open the doors for a test of the congestion area at ¥104.25 to 104.35.
If the dollar should reverse lower than a move back below ¥103.50 could see a fresh challenge of the key support level at ¥103.10 then ¥103.05.
USD/CHF (0.91101)
The Dollar pushed higher against the Swiss franc after forming a hammer. The rally has fallen short of the key resistance near 0.91450.
Should the rally continue, we see short term resistance at 0.9170 with a break above that testing 0.9220 the 0.9225. Should the dollar continue to move lower, we see a congestion area at 0.9090 to 0.9115. A break below that can target 0.9030.
EUR/USD (1.32841)
The euro finally broke its losing skid which lasted three days. It reached its lowest level in nearly eleven months. We see near term support at 1.3250.
A move below that targets a congestion area which is at 1.3120 to 1.3190. If the euro continues to push higher than we need a move above 1.3290 to target 1.3340 then 1.3350.
