Release of the Trump memo hurting the dollar
The dollar is moving lower and erasing some of the gains from the stronger jobs report. The release of the memo that alleges anti-Trump bias at FBI and DOJ is helping to weaken the dollar. The US yields are also off low levels. For whatever reason, stocks are also off lows.
EURUSD
The EURUSD was already on the way higher having found support buyers against the 200 hour MA earlier. The pair is moving up to test the 1.2474 level. The importance of that level? It was the swing high from Wednesday, and a support level earlier today.
GBPUSD
The GBPUSD moved above the 50% of the last leg lower at 1.4135 and has shot up to retest the 100 and 200 hour MAs at 1.4157-65. That is the next key level for bulls/bears.
USDJPY
The USDJPY moved up to the middle of the topside targets at 110.48 target (the other two were the 38.2% and the 50%). The price is now back below the 38.2% at 110.227.
