Michigan sentiment sours the dollar bulls mood
The Michigan sentiment was worse than the other US data today and the dollar reversal continues.
The dollar is trading at low levels for the NY session against all the major pairs. Versus the EUR, the price is moving toward the close from yesterday at the 1.1408 level. The high for the day is at 1.1413
The GBPUSD is also trading near the close from yesterday at 1.5773. The high is the next stop at 1.5782. Yesterday's high came in at 1.5812.
The USDJPY is below the 200 bar MA on the 5 minute chart at the 119.48. The 50% of the days range is at 119.53. The USDJPY got a head start after comments that the BOJ might look to lower reserve rates helped to weaken the JPY.
The AUDUSD is move toward the 50% of the days range, and 200 bar MA on the 5 minute chart at the 0.8040-45 area.
The USDCAD is moving back toward the key 1.2000 level.
The NZDUSD was down big, but has retraced 61.8% of its move down today.
