A review...
- Gold tumbled just before the testimony, but has found support against a trend line at 1271 area. The current price has rebounded to 1275.33 currently.
- US stocks are trading above and below the unchanged line in the S&P and Nasdaq. The Nasdaq was down around 14 points. It is up 2.3 points now. The S&P moved down 5 and was as high as up about 4 points. It is unchanged
- US yields are up about 2-3 bp across the curve. Not much changed from earlier levels.
- The EURUSD dipped below 1.1200 to 1.1194 at the low. That break should have sent the pair lower. It failed. The price is back up to 1.1222 - just below the 200 hour MA at 1.12273.
- The GBPUSD bounced near its 100 hour MA at 1.2911. The low reached 1.2907 before the bounce. We just moved quickly to 1.2950
- The USDJPY traded up to the 200 day MA at 110.366 (high reached 110.38). Sellers leaned and the pair trades at 110.177 currently. The 100 hour MA is below at 109.948.
- The USDCHF broke above the 200 hour MA and 38.2% at 0.9687 to a high of 0.9695. That break failed. We trade at 0.9673 after the failure. The 100 hour MA is the closest support at 0.9642.
Overall the markets are somewhat steady through the testimony. There has been little twists and turns, but overall, the volatility is remaining under control.