Major indices continue the reversal and trade at session lows
The USD has continued its reversal from earlier higher levels. The major indices are all making new session lows. The USD is now the weakest of the major currencies today.
USDJPY: The USDJPY is make and below its 100 hour moving average at 103.66. Bearish the bias increases
EURUSD: The EURUSD has broken above its 100 hour moving average at 1.21485. Bullish bias increases
GBPUSD: The GBPUSD a pushed above and ran away from its 100 hour moving average at 1.36833 and trades back above the 1.3700 level. Resistance at 1.37088.
USDCAD: The USDCAD is moving down to test its 200 hour moving average at 1.27020. A move below that moving average would target the 100 hour moving average 1.26874 and the 50% retracement at 1.26845.
AUDUSD: The AUDUSD has moved back above its 200 and 100 hour moving averages at 0.77257 and 0.77314 respectively. The 50% retracement of the move down from last week's high is also near the 200 hour moving average at 0.77249 currently. Stay above that level is more bullish today.
NZDUSD: The NZDUSD is testing a swing area between 0.72348 and 0.7240. The price is trading above that level as I type.
USDCHF: The USDCHF moved below its 200 hour moving average at 0.88819 and toward its 100 hour moving average at 0.88714. The low just reached 0.8874.
