Seeing pick up in yields
The dollar has continued to move higher after the FOMC minutes. There seemed to be some uncertainty on forward guidance and that has helped to push up rates and the USD in the process. Lack of support for yield curve targeting may also be a reason for the back up in yields and the USD. Stocks are now trading back negative on the day.
GBPUSD: The GBPUSD tests its 200 hour MA at 1.30999 after falling below the 100 hour MA at 1.31372. There is some slow around that MA level.
EURUSD: The EURUSD fell toward its 200 hour at 1.1823. The low price reached 1.1828. We currently trade at 1.1850
USDCHF: The USDCHF push to yet another new high at 0.9148.. The next targets come in at 0.91578 and 0.9167. The move took the price away from support at 0.91216 and the 61.8% retracement at 0.91255. Those levels remain close risk levels for longs looking for more upside.
USDJPY: The USDJPY trades above the 38.2% retracement of the move down from last week's high. That level comes in at 105.841. The next target comes in at the 50% retracement of the same move down at 106.07. The 100 hour moving average is just above that level at 106.087.
USDCAD: The USDCAD moved above its 100 hour moving average at 1.32032. The high reached 1.32117. The price has moved back below its 100 hour moving average was support now eyed at 1.31914. Stay above and there may be another run above the 100 hour moving average. Move below and sellers are still in control.
NZDUSD: The NZDUSD fell below its 200 hour moving average at 0.65745 to the 61.8% retracement of the move up from the low on Monday to the high today at 0.65689. The prices back above its 200 hour moving average currently. A move back below would also have the 100 hour moving average at 0.65637 as a downside target to get to and through.
AUDUSD: The AUDUSD fell below its 100 hour moving average at 0.72019 and tests its 50% retracement at 0.71915. The 200 hour moving averages at 0.71800. The current price trades at 0.7198 just below the 100 hour moving average above. If the price can remain below the 100 hour moving average the sellers remain in control.
