It's Friday.....and we are seeing up and down Friday flows.
The EURUSD ran higher after basing at the 200 hour MA, breaking above the 100 hour MA and then the 100 day MA (at 1.13865). The run higher moved up to 1.1408 and rotated back down.
The last hour or so has seen the price take back the break of the 100 day MA and move back toward the NY session lows near the 100 hour MA at 1.13739. The low just reached 1.13748.
Meanwhile, over in the GBPUSD, it too ran higher. Its catalyst was limited selling when the pair moved below the 100 hour MA in the London/early NY session (100 hour MA at 1.32265 curently). Its run higher went up to 1.3285, before moving back lower and below the 100 hour MA. The pair just traded to a new session low at 1.32117. The 38.2% of the move up from the Feb 22 low comes in at 1.3203. That is the next target.
