Dollar moves lower. New lows for the greenback vs. the EUR, GBP, CHF and CAD
Greenback makes a break lower
The US dollar has moved lower and in the process has seen the greenback fall to new lows vs. the EUR, GBP, CHF and CAD. The other major currencies are also seeing the dollar fall.
GBPUSD higher but stays in the range. What clues do you look for today?
There will be a break sometime
The GBPUSD is higher on the day but is staying in the up and down range.
Looking at the hourly chart above, the pair last peeked on Tuesday near corrective highs from Friday's trade at 1.3131. That move took the price above a swing area in the 1.3104 to 1.3114 area (see red numbered circles
Yesterday's high becomes today's resistance
The USDJPY has traded lower and back higher in an up and down session.
Looking at the 4 hour chart, the move to the downside did break below a cluster of support defined by the 200 hour moving average at 106.60, the 61.8% retracement at 106.638 and a swing area at 106.629 to 106.705. The price
What's weighing on the dollar today
from a number of Fed officials and the impasse in the US government around
additional stimulus, have been playing their part to weigh on the US Dollar on
Thursday. Still risk correlated FX has been less inclined to be making any big
moves, with these same stories somewhat offsetting the Dollar outflow.
It stalled here yesterday
Better initial jobless claims had little effect on the foreign exchange market but one spot to watch is in USD/JPY, which stalled out at 107.00 yesterday in a minor double top. It fell to 106.57 in Asia but has battled back to a high of 106.99.
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