EURUSD moves lower and back below 100/200 hour MAs after CPI data

The EURUSD moved lower after the higher than expected CPI data. T

he price is moving back toward the 1.0500 level but finding support against that level. There is a swing area between 1.0505 and 1.05092 which is also being tested. The low price reached 1.05012 and is seeing some bounce. The current price is trading at 1.0518.

On the downside, below the 1.0500 level:

• The 1.04904 level was a low from last Monday/Tuesday and again on Thursday (see red numbered circles). This week the low price reached 1.04945.
• The low price last week was reached on Friday at 1.0482, and
• The low price for 2022 came in on April 28 at 1.04703.

Those are the steps to the downside on further selling pressure. Below those levels and the EURUSD is trading to the lowest level since January 2017. The low price for 2017 - in the 1st week of January of that year - came in at 1.0339 for your guide. Moving below that level would take the price to the lowest level since December 2002 and have traders speaking in terms of parity for the next key target.

On the topside, the run to the downside after the data took the price back below its converged 100 and 200 hour moving averages at 1.0543. It would now take a move back above that level to hurt the sellers bias.

Looking at the hourly chart, the price has been an in a up and down trading range since April 27. The low comes in at 1.04703. The high reached last Thursday was at 1.0641. That high price stalled ahead of the 38.2% retracement of the move down from the April 21 high at 1.0648 keeping the correction to a "plain-vanilla variety".

The US stock futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term have taken a step lower since report: they now imply

• Dow -214 points
• S&P -43 points
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term -221 points

The 10 year yield is now at the high for the day near is a 3.064%, up 7.1 basis point. The 2 year yield is up 10 basis points at 2.723%. Yields are lower at the start of the New York session