EURUSD tests last weeks lows
The US dollar is on a tear to the upside. The major currency pairs are all trading at extremes.
EURUSD. The EURUSD is down testing the lows from last week at 1.1688. The price has moved below the 1.1711 level which was swing high from August 2015. That is now risk for short.
USDJPY. The USDJPY has raced above its 100 bar MA on the 4-hour at 110.50 and moves toward the next upside target ag. the 38.2% of the move down from the July 10 high at 110.92.. The high from August is 111.04. The 100 day MA is up at 111.29.
GBPUSD. The GBPUSD was already weak after the inflation data in the London session. It has fallen further and tests a key trend line and 100 day MA at 1.2855 area. The 61.8% of the move up from the June low comes in at 1.28478.
AUDUSD. The AUDUSD has moved below its 200 bar MA on the 4-hour chart at 0.7827 (now risk). The pair is also below the 50% at 0.7818. That too is risk now for the shorts. The price has not traded below the MA since June 5th.
