The USD is extending to a new high vs all the major currencies with the exception of the JPY and CHF as London/European traders head for the exits.
EURUSD: The EURUSD is falling below its 200 hour moving average at 0.99976 and trading back below the parity level at 0.9993.
GBPUSD: The GBPUSD is moving farther away from its 200 hour moving average 1.15575. After racing lower on the CPI news, the price fell below its 100 hour moving average, and corrected up to that moving average but found willing sellers. That kept the sellers in firm control and have contributed to the declines seen over the last 4 hours of trading.
USDCAD: The USDCAD moved above the swing area between 1.30721 and 1.30943. That has lead to further upside momentum with the next target at between 1.3131 and 1.31397. That swing area comes ahead of the extremes reached over the last few weeks up near 1.32072.
AUDUSD: The AUDUSD is running away from the 200 and 100 hour MAs now at 0.6798 and 0.68157 respectively. The price is also now moving below a swing level at 0.6771. Stay below that level keeps the sellers firmly in control.