Dollars move to the upside picking up some steam
The EURUSD has moved to a new session low and in the process is extending toward its 100 day moving average 1.16486. The price has not traded below its 100 day moving average since May 27. Technically, the pair also fell below a swing area between 1.1687 and 1.17103.
A move below the 100 day moving average would have traders looking toward the swing low from September at 1.16117.
The move to the downside is following other USD moves higher.
- The GBPUSD is trading at new session lows and test the 1.29000 level.
- The USDJPY just broke back above its 100 hour moving average at 104.567 and trades at 104.65.
- The USDCHF is testing its swing hi from October 19 at 0.91644. The high price just extended to 0.9166. Buyers are making a play
- The AUDUSD is back below its October 20 swing low at 0.70202. The low for the day came in at 0.7009 from earlier today. The September swing low for the pair came in at 0.7005. A break below each of those levels would increase the bearish bias.
- The NZDUSD is testing its low from a few hours ago at 0.6609. A break below the level will have traders looking toward its 100 day moving average at 0.65963.
