A look at some of the major currency pairs

EURUSD: The EURUSD has raced above its 200 and 100 hour moving averages and topside trendline. The pair is still short of its high for the week at 1.19667 and the 50% retracement 1.19739. Get above each and that will open the door for the March 11 high at 1.19907 with the 1.2000 level. The shift in bias above the MAs will now require a move back below those levels to hurt that bias....

A look at some of the major currency pairs

GBPUSD: THe GBPUSD I has moved back above its 200 (at 1.38912) and 100 hour moving averages (at 1.39091) but is still short of the high for the day at 1.39126. The 38.2% retracement 1.39546 is a another target if the price can stay above the moving averages.

GBPUSD moves higher but not that much higher

USDJPY: The USDJPY is now move back below its 100 hour moving average at 109.023 and looks toward the key support defined by the 50% of the most recent range at 108.843 and the 200 hour MA at 108.81. FYI, the price has not traded below its 200 hour moving average since February 24