USD at day lows vs JPY, CAD, and GBP.
The US dollars moving lower. Yields in the US are continuing their slide to the downside with the 10 year down 7.25 basis points. Crude oil is also giving up their gains after higher than expected build and inventories. Gold is trading near high levels as well at $1471, up $7.60 or 0.52%.
GBPUSD: The GBPUSD is trading to a new session high and just moved above the 50% retracement of the move down from the October 31 high at the 1.28715 level. The high for the week was reached at 1.28959 On Monday that was the 61.8% retracement of the same move lower. It is the next upside target for the pair.
USDJPY.The USDJPY move below a lower trendline at 108.53 and is testing the 61.8% retracement at 108.492. A move below that level should solicit more selling.
USDCAD. The USDCAD is moving lower despite lower oil prices. The good news for the loonie comes from comments that the USMCA deal was making progress and there could be a deal imminently. That has sent the Canadian dollar higher vs the USD (USDCAD lower). The pair is approaching its 100 hour moving average at 1.32397. The price has not treated below the 100 hour moving average since November 6. A trendline was broken at 1.3253
EURUSD: The EURUSD trading near session highs at 1.1015 and is approaching its 100 hour moving average at 1.10166 along with a trendline (see chart below). A move above that level would be a bullish tilt (if the price could stay above).
USDCHF: The USDCHF has move below its 100 day moving average at 0.9877. Earlier today the price move below that level but could not sustain the fall. The low reached 0.98695. The pair is just above that level now at 0.9871. If the price can stay below that 100 day moving average traders will look to target 0.98429 which is the 50% retracement of the move up from the August low.
