EURUSD falls below 100 day MA
The USD has run higher, stocks lower, Bond yields higher as Powell does not offer anything new in his views.
EURUSD: The EURUSD has moved back below its 100 day moving average at 1.20275. Currently trading at 1.20125. Stay below the 100 day moving average and the bears are in full control. The low from last week at 1.1991 is the Next major target
GBPUSD: The GBPUSD has move back away from its 200 hour moving average test at 1.40141. The high for the day before the testimony reached 1.4016. The pair it is approaching its 100 hour moving average at 1.39459. There could be some support buyers against that level with stops on a break below.
USDJPY: The USDJPY continues its run to the upside and trades at the highest level since July 1. The current price trades at 107.77. The July 1 high extended up to 108.158
AUDUSD: The AUDUSD that has moved back below its 100 hour moving average at 0.7779. Stay below is more bearish. The low for the day comes in at 0.7752. The current price is trading at 0.7762
NZDUSD: Moved above its 100 hour moving average just before the start of the Powell testimony at 0.72624. The the price has now broken below its 100 session low at 0.72348. The Asian session low at 0.7225 is being tested. A move below would have traders looking toward the low from Tuesday at 0.72088.
