USDCHF tests May 4th low at 0.9855. EURUSD breaks above the day highs
The USDCHF tests the 0.9855 low from May 4th. The price moved below trend line support at 0.9863. A move below will look toward the low from March (and the low for 2017) at 0.98128.
Meanwhile the EURUSD breaks above the highs for the day at 1.1088. The 1.1100 is the next target, followed by 1.1128 level (61.8% of the move down from the May 3rd high).
it is hard to pick an extreme in a trending market. Both the EURUSD and the USDCHf has stalled at technical levels, and each showed signs that a correction was in order. However,those corrections/consolidations were modest.
The dollar sellers remain in control. The buyers of the dollar are losing. Be careful.
