Dollar longs covering a bit
The EURUSD made a break below the 100 day MA and extended to 1.10489. The price is correcting higher now as the weekend flows and perhaps some intraday shorts cover.
The high price after the initial plunge reached the 1.1133 level. The midpoint of the trading after the plunge - see chart below) comes in at the 1.1091. The move above that level seems to have neutralized the buyers and sellers a bit.
Overall, the data should keep the dollar bid. but there were some key levels tested in the dollar buying today in some of the major currency pairs and the levels held or quickly rebounded. The charts below show the reasons for the stall in the dollar in each.
GBPUSD
USDJPY
AUDUSD
