With gold coming off, the dollar is seeing some buying...
With the price of gold coming off (talk of a big seller in the futures which might be margin related), the USD has started to move higher.
The EURUSD has moved down to 1.08407 which is near the London morning high. A move below that level will have traders looking toward its 200 hour MA at 1.08278.
The GBPUSD is moving lower after testing the 100 hour MA (blue line at 1.29344 currently). The 100 hour MA is now a risk defining level for traders going forward.
The USDJPY moved below its 200 hour MA at 110.534 and to an intraday low at 110.329, but that break ran out of steam and is trading back above the MA line. If the price can stay above that MA line, there could be more upside momentum toward the 50% midpoint at 110.94.
