One of the key things about moves such as we've seen so far in the last couple of hours is that it leaves traders guessing, and some.
Is it the start of a bigger move or just a bit of profit-taking? time to square positions or time to re-load?
Well so far we've seen a decent bout of USD selling taking EURUSD back up beyond 1.0600 and GBPUSD into 1.5000, but both capping for the moment. EUR buying has been a feature too with EURGBP rallying from 0.7042 to 0.7076 but yet again running into sellers
USDJPY looked offered when I sat down as I mentioned here and has dipped further to 121.16 but once again caught up in the crossfire and found some bids on that basis
USDCHF has dropped to 1.0035 from 1.0105 while USDCAD has looked at 1.2700 from 1.2770 and AUDUSD has broken up through resistance at 0.7650 to post 0.7674
So it's a decent moves across the board but let's keep it all in perspective after the recently rapid USD rises.
Just enjoy the good two-way business for the moment.
