Trades at new lows versus major currency pairs
The US dollar is sliding to new lows vs. the major currency pairs as dollar longs get squeezed.
The EURUSD has moved above the next target at the 1.12527 level. The next target is the high from Friday's employment day. that level comes in at 1.1278.
The GBPUSD has moved above the 100 hour MA and the 50% of the move down from last week at the 1.5314 level. The pair is testing the 61.8% of the move down from last weeks high at 1.5344. Above that opens up the upside for a retest of highs from Friday (1.53688), the high from Wednesday at 1.5374 and then it is smooth sailing to the 1.5400 level.
