Dollar continues to move higher

Technical Analysis

Author: Greg Michalowski | eurusd

Dollar at day highs vs EUR, GBP, CAD, AUD and NZD

The dollar continues its move higher.

The dollar is trading near the high vs most of the major currencies.

IN the current hourly bar, the dollar has made new highs vs the EUR, GBP, CAD, AUD and NZD. That is some buying. 

The US data was better today and technicals are helping as well.

For the EURUSD it just fell below the 50% retracement target at 1.12312 and looks toward 1.12193 and 1.12039.

The GBPUSD just cracked below the June 3 swing low at 1.2610 and tests the 1.2600 level.

The AUDUSD is eyeing a key low swing area at 0.6864-67. The low is trading at 0.6874 currently. 

The Friday London 4PM fixing is at the top of hour. That may be an influence on the flows as well. 

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