Breaking higher.
The USD is breaking in all the major currency pairs. The greenback is higher versus each, with gains against the AUD and the NZD leading the way..
AUDUSD
The AUDUSD stalled yesterday at the highs from Monday. The US $200B tariff talk sent the pair running below the 100 hour MA (blue line in the chart above). The correction up to the MA line, was the confirmation for the bears and the price has continued the move lower.
The NY session did see price action back above the 200 hour MA (green line) but the last tumble takes the price further away. The pair is testing the 61.8% of the move up this month at 0.7376. A break below will head toward the swing low from July 5th at 0.73606.
NZDUSD
The NZDUSD found support earlier at the 200 hour MA, but the corrective move higher stalled ahead of hte 0.6805 old floor (now a ceiling) and the dip buyers sold. The break below the 200 hour MA has now sent the price below the 50% retracement at 0.67725. The 61.8% is the next target on more selling momentum.
EURUSD
The trend line and 200 hour MA/38.2% retracement did not really stall the fall for the EURUSD and it has helped to push the price to the 200 bar MA on the 4-hour at 1.16742. THe 50% retracement and the 200 bar MA on the 4-hour chart are other targets at 1.16539-583
USDJPY
The USDJPY has moved up to test the next target at the 112.00-05 area (see chart above). That area was a floor back in December before cracking lower on January 8th. Sellers have leaned against the area on the test (the high reached 112.035).
GBPUSD
Yesterday, traders stalled the fall after breaking below a bullish above and bearish below swing area at 1.3202-16. The price bounced.
Today, the price has broken below the 200 hour MA at 1.3222 and moved to the 1.3202 low swing line. Can it hold? If so, the price needs to get back above the 1.3216 and 200 hour MA at 1.3222. That might be hard to do this time but is the hurdle dip buyers are hoping for now....
USDCAD
The USDCAD made new lows by about 5-6 pips and rocketed back higher. The price moved back above the 100 hour MA and stayed above. The price is making new highs with the 38.2% at 1.3184. The 1.3222 is the 50% on more of a squeeze..
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