The USD rises as risk off pushes the greenback higher

Technical Analysis

Author: Greg Michalowski | usd

Yields lower. Stocks lower.  Crude lower. Gold down but hangin in there

The USD is now the strongest of the major currencies as stocks continued their run to the downside (NASDAQ down -1.57 percent, Dow industrial average down -678 points or -2.4%. S&P index down 2%).

US yields are lower as well with the 10 year down -3.8 basis points and the 30 year down -4.3 basis points.  

Crude oil is falling sharply. It is down $-1.40 or 3.51% at $30.45. 

Gold is hanging in there with a decline of only $-1.80 or -0.09% at $1900 area.

Yields lower. Stocks lower.  Crude lower. Gold down but hangin in there
In the forex:
  • EURUSD has moved back down to test the 38.2% retracement 1.18067. A move below that level and the 1.18 level should solicit more selling.
  • GBPUSD: The GBPUSD is trading above and below its 200 hour moving average at 1.3003. A trendline cuts across just below that level near 1.2999.  The price currently trades at 1.3004.
  • USDCAD: The CAD is now the weakest of the major currencies. THe USDCAD has reached of the the highest level since October 16 breaking above the October 20 high at 1.3203
  • AUDUSD. The AUDUSD being down toward its 100 day moving average at 0.7106. The rising 100 hour moving average is just below that level at 0.7105. The 200 hour moving averages at 0.7100. The low price just reached 0.71076.

AUDUSD on the hourly
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