Not running but a little weaker

The dollar is a little weaker after the Fed minutes

USDJPY:

The USDJPY was hurt earlier in the day and was the weakest currency by a large amount. In the NY session the recovery was on. The price has moved back above the 200 day MA at 110.194 and moved to a high of 110.32. We are currently back down retesting the 200 day MA. The 50% of the day's trading range is at 110.23 and the price is still well below the close from yesterday at 110.898. If the 200 day MA is able to hold support now, a move above the 200 hour MA at 110.38 will be eyed.

EURUSD.

The EURUSD traded to a lower trend line on the hourly chart over the last hour on the news from Italy. The inability to go below that level is helping to define the low at 1.1675. The price is now trading at 1.1691. The key resistance on the topside remains at 1.1712-17. Stay below is more bearish going forward. Move above and the sellers might give up.

The US stocks like the minutes.

  • The S&P is back to unchanged. The index successfully tested and held against the 100 day MA at 2709.88. The low reached 2709.54.
  • The Nasdaq is up 20 points now or 0.28% at 7398. The low reached 7334.
  • The Dow is now down -38 points after being down about -160 points at the lows.