Buyers taking back more control
The EURUSD has extended back above its 200 hour moving average at 1.158887. That increases the bullish bias for the pair.
The move higher also extended above a swing area between 1.15816 and 1.1586 along with the 100 hour moving average at 1.1581. Buyers will now use that area as a risk defining level. Stay above is more bullish. Move below and there could be disappointment on the failure above the 200 hour moving average.
The USD is making new lows against the GBP, JPY, AUD and NZD in the current hour bars for each pair.
- The GBP is moving above its 100 hour moving average at 1.35655
- The USDJPY is looking toward the 113.00 support. It just reached a new session low of 113.07, and remains below the 38.2% retracement of the move up from the October low to the October high at 113.21
- The AUDUSD is breaking above its 100 hour moving average at 0.7417
- The NZDUSD (the NZD is the strongest of the majors) is approaching the swing high from Thursday's trade at 0.71778. The price moved as low as 0.7068 on Friday.
