General Commentary
Last week’s currency trading review
The EUR/USD the main pair in the spotlight and a big mover last week with a break above 1.3000 leading to a quick run up to 1.3140. The September high was just above near 1.3170 and is the natural target for the bulls. On Friday we saw a large pullback however from 1.3100 to 1.3020 and we could be on the way to test support first.
USD/JPY is back above Y79 but as always is not moving quickly and will require fresh news to test key levels such as Y80. A run of better than forecast US data has created the uptrend and the Yen crosses have been eager to take advantage with EUR/JPY gaining from Y100 to Y103.
Currency Movement last week
EUR/USD was up +0.55% closing at 1.3025, after opening the week at 1.2956.
USD/JPY was up +1.11% closing at 79.30, after opening at 78.42.
GBP/USD was down -0.39% closing at 1.6005 after opening at 1.6067.
AUD/USD was +0.98% closing at 1.0332 after opening at 1.0231.
