200 day MA at 1.1992
The EURUSD has continued its move to the downside and has cracked its 100 day moving average of 1.20415 . The next target comes in at the 200 day moving average at 1.1992. The current price trades at 1.20145.
The last time the price traded below its 200 day moving average is back on April 13.
Traders will now want to see the 100 day moving average as resistance.
Powell says the "timing of reversing of the price increases is uncertain" and he "does see a very strong labor market one to two years out".
He adds: This was the "talking about talking about tapering meeting".
- US stocks are now showing declines of over 1% in the major indices (the S&P is down -0.97%).
- The 10 yield is now up eight basis points to 1.572%
- Spot gold is down $24 or 1.3% $1835.40. The low price reached $1832.20.
- WTI crude oil futures are down $0.15 or -0.21% at $71.97
- Bitcoin is down $-1320 or -3.31% at $38,641