After the impressive, post FOMC turnaround we’re back below 99.00 and not looking none too healthy.
The fact that we bounced so well last week should have suggested that there may have been another attempt at the upside and the 100 level but the weakness today and the potential political turmoil ahead has shown that dollar bulls still have plenty to worry about.
We’ve just nudged down to the lows at 98.79 and the 55 dma awaits at 98.75. We’ve already smoked the 100 dma so this line in the sand is the last stopping point for a drop further.
USD/JPY daily chart 23 september 2013
even as I write there’s another attempt at 55 dma as USD/CHF gets booted back below 0.9100 and EUR/CHF trades below 1.2300 and the 200 dma down to 1.2287.
