Trades back below its 100 hour moving average.
The we can expected US jobs report has helped to push the dollar lower and the EURUSD higher.
The pair's price has move back above its 200 week moving average at 1.15698, but remains below its 100 week moving average at 1.16028. The high price extended to 1.15855 so far.
Drilling to the hourly chart, the price traded above its 100 hour moving average at 1.15768, but fell short of its 200 hour moving average currently at 1.1598. The price has dipped back below the 100 hour moving average and trades right near it's 200 week moving average at 1.1570
The move to the upside is bit of a disappointment. If the buyers are to take more control, getting and staying above the 100 hour moving average is a minimum requirement. The price action may be post employment volatility, but buyers still need to prove they can take control from a technical perspective.
The saving grace is that the dip has seemed to be finding support near it's 200 week moving average at 1.15698 (by a thread). Nevertheless, the buyers aren't exactly winning. They are still in a fight with the sellers.
US stocks are mixed with the Dow industrial average down around -17 points. The NASDAQ index is up around 36 points. The S&P index is up around two points. Preemployment levels had the Dow up 73 points. The NASDAQ up 25 points and the S&P up about eight points.
In the US debt market, the yields are still holding onto gains five years out. The five year is up 0.5 basis points. The 30 year is up around 2.4 basis points.
