Trading at the extremes vs the major pairs
The USD is running higher and trades at extremes vs the other major currency pairs.
A snap shot shows that the greenback is strongest against the AUD and CAD (which is racing higher). Each of those pairs have moved over 0.8% on the day.
The EURUSD is also a big mover (0.76% change) and just broke below its 100 hour MA at 1.1377. Traders now look toward the 200 hour MA and 50% retracement area at 1.13403 -43.
For the GBPUSD, the pair fell below the lower trend line on the hourly chart below and ran lower. The narrow trading range was extended in the process (now 106 pips – see earlier post). A ceiling at the 1.2882 area stalled the rallies in trading today.