Retail sales revisions are better
The US dollar has moved higher after the US retails sales came in as expected but had decent revisions.
The EURUSD is below trend line support at the 1.1102. Stay below keeps the bears more in control. Staying below the trend line on the hourly chart above, and the traders will be looking down toward the 100 hour MA (blue line in the chart above) and the 100 day MA (at 1.10395 and 1.10362 respectively). PS The broken trend line on the daily chart at 1.1054 is also a level to eye on the downside (see daily chart below).
The USDJPY is up testing the 100 hour MA at the 124.58 level. The pair has banged against that level today. Needs to get back above it now. The 200 hour MA is at 124.49 (green line in the chart below). If the buyers are to remain in control, the 200 hour MA should hold support. ON a break higher the 124.696 is the next target. A move above that and the 125.00 level becomes the focus once again.
Inventory data will be released at 10 AM.
