Apple cart gets a little wobbly and there is a quick exit
The dollar just had a little wobble and the buyers of the dollars moved back in.
The EURUSD moved above the 1.0848 level outlined in an earlier post.
The USDCAD moved to new lows. The price of WTI Crude opened higher. Last week the pair fell below the 100 day MA (at 1.2257 currently). The 100 hour MA is at 1.22038 currently and this is where topside trend line comes in as well. The lows for April remain the next downside targets.
The GBPUSD held support against the broken trend line (see 4 hour chart below). Look for intraday support around 1.5128 now (earlier low).
The market seems to be trying to find what it wants to do this week with intraday flow dominating.
PS the USDJPY moved back down to test the 100 day MA at 119.27 but bounced. Fitch cut Japans rating today which weakened the JPY a bit.