| The morning forex report will outline the key technicals for some of the major currencies vs the USD - EURUSD: The EURUSD is back down after testing its 38.2% retracement level yesterday and finding willing sellers. The today the price is knocking on the 200 hour moving average at 0.99829. A move below should increase the bearish bias. Key level to start the North American session - GBPUSD: The GBPUSD reached another new low going back to the March Covid lockdowns period. The RSI is the version which gives a secondary trading clue, but there are levels to get above before traders can call the bottom - USDCHF: The USDCHF moved above a swing area between 0.9807 and 0.98166, but is running into some selling. - AUDUSD: The AUDUSD traded to a new cycle low breaking the lows from yesterday at 0.6840. The low price reached 0.67914 before bouncing back higher. If the price can get above the 0.6840, the buyers may see further upside corrective action. Absent that and the sellers remain in control. |
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