EURUSD, GBPUSD, USDCHF, AUDUSD and NZDUSD all trading at new extremes.
The USD is made a run to the downside with new lows being made vs. the EUR, GBP, CHF, AUD and NZD.
EURUSD: The EURUSD has moved above its 200 hour moving average at 1.12413 and race to a new session high of 1.12677. That took out the high from yesterday at 1.12614. The price also moved above a trendline at 1.12537. The broken trend line is now risk for buyers looking for more upside momentum. On the topside, the next target comes in at the 61.8% retracement of the move down from last week's high. That level comes in at 1.12852. The high price from Monday's trade extended to 1.12876. That area between 1.1285 and 1.12888 is the next key target on the topside for the pair.
GBPUSD: The GBPUSD has also moved above its 200 hour moving average at 1.2400 and moved to a session high of 1.24583. That high has got within about 5 pips of its 100 day moving average at 1.24632. Sellers seem to be leaning against the level on the 1st test. The current price is trading at 1.2447.
USDCHF: The USDCHF has taken out its 0.94568. The new low has so far reached 0.9453. Earlier in the New York session the price did extend above its 200 and 100 hour moving averages at 0.9481 and 0.9484 respectively. However the price could not close the hourly bars above those levels and the last few hours have seen the price moved steadily to the downside. The low from Monday's trade came in at 0.9441. That is the next downside target
AUDUSD: The AUDUSD has had a up and down session. However the low in the London morning session did fine support against its 100 hour moving average currently at 0.6877. The inability to fall below the 100 hour moving average has led to a surge over the last 3 – 4 hours of trading. The high price just reached 0.69426. That is the highest price cents June 24. The move to the upside cracked above the 61.8% retracement of the move down from last week's high to the low this week. That level comes in at 0.69199. Stay above is more bullish and keeps the buyers in firm control. Move below and we could see further downside corrective action (the London session high stalled against that level earlier in the day). On the topside the next targets come in at 0.6955 to 0.69614. The high price from last week reached 0.69741 which was just short of the June 16 high of 0.69758 (Key double top).
NZDUSD: The NZDUSD - like the AUDUSD - traded up and down until the last 3-4 hours of trading took the price to new session highs. Also like the AUDUSD, the pair found support against day hourly moving average level. For the NZDUSD the lows for the day stalled just ahead of its 200 hour moving average currently at 0.6440. The inability to move below those levels (there were two separate tests), gave the buyers a lower is trading opportunity to enter the market. The high for the day has reached up to 0.64888. That took the price above the 61.8% retracement of the move down from last week's high to the low from yesterday's trade at 0.6476. We currently trade at 0.6480. The London morning session high came in at 0.64689. That is now close risk for buyers looking for more upside potential him.
