Trades at lows vs the EUR, AUD, and NZD. Can the momentum continue?
The USD has extended its gains since the start of the NY session. The greenback is higher vs all the major currencies today. The pair is up the most vs the NZD (up 0.77%). It also has solid gains vs the AUD and EUR (both up 0.48%). The dollar has stalled vs the JPY and CAD though (after the weaker Richmond Fed) although it still remains higher vs those currencies too
The NZDUSD today has seen the price move below the 100 hour MA (it held the level yesterday at the close). The 200 hour MA was broken but the 200 day MA at 0.6717 stalled the inital fall. After a brief rebound (back to a resistance swing area), the price has most recently fallen below the 200 day MA (now risk for shorts). . The 38.2% of the move up from the July 10th low is the next target at 0.6704. That too is key. Failure to break makes the correction just a plain vanilla correction of the move higher. A move below will eye the 100 bar MA on the 4-hour at 0.66924.
The AUDUSD has also made a run to new session lows in the current hourly bar. For it it fell below the 100 hour MA early in the day and stalled at the 200 day MA and 38.2% of the move up from the July 9 low on the first run (at 0.7014-16 area. After it corrected modestly, the pair cracked below the 100 day MA/38.2% and now looks toward the low from last week at 0.69957 and the 50% retracement (at the same area)
The EURUSD has accelerated the trend move lower today (runs away from the 100 bar MA on the 5-minute chart – see prior post). The pair has moved to a new low at 1.1160. The 1.1167-729 and the lagging 100 bar MA at 1.11758 are now risk levels for shorts. Stay below, keeps the trend move lower intact (intraday).
For a special look at the EURUSD, check out my most recent video on the non-trending nature of the pair in 2019.