| Greg Michalowski of Forexlive takes a technical look at the EURUSD, USDJPY, GBPUSD and AUDUSD to start your trading day in the US. The USD moved lower for 3 consecutive days (the US stocks moved higher as a result). That move is seeing some retracement today. Technical targets were reached in a number of currency pairs to help the reversal. The move back higher in the USD is taking back some bearish technical breaks. EURUSD: The EURUSD is moving back below its 100 day MA in early US trading. GBPUSD: The GBPUSD is back below its 200 hour MA and looks toward the 100 hour MA target at 1.1384 USDJPY: The USDJPY based near a key swing area support and is bouncing back toward its 100 hour MA at 146.83 AUDUSD: The AUDUSD found willing sellers near the 38.2% and key upside swing area yesterday. Sellers leaned, and are looking back toward the 100 hour and 200 hour MA targets on the downside. |
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