EURUSD moving back to the day lows. USDCHF back above 1.0000.
The US dollar has moved higher after the better-than-expected US retail sales
- The EURUSD is trading back near the lows for the day after rising toward key resistance at 1.0822 in the London/European session. The 1.07086-11 area are the lows from January and yesterday (lows for 2016). A move below those level should open the downside for more downside momentum.
- The USDJPY is trading at the highest level since June 3rd. The next key upside target is up at 109.267. That is the 38.2% of the move down from the June 2015 high. Key target
- The USDCHF is trading above parity at 1.0000. Next target 1.0037. Risk is a move back below the 1.0000 level now (also support at 0.9990).
- AUDUSD trades at new session lows and is looking toward a test of the floor from Friday/Monday at 0.7523. The 200 day MA is the next key target for this pair at 0.75084.
The Atlanta Fed GDPNow estimate will be released later today. The last estimate was a 3.1% increase. The expectations would be higher given the better than expected October retail sales report.