Dollar moves to new lows vs the EUR, GBP, CHF, CAD, AUD and NZD
The USD is now the weakest of the major currencies followed by the JPY. The strongest currency remains the CAD followed by the other commodity sees including the AUD and NZD. Moreover, new extremes are being made vs all the major currencies with the exception of the JPY. In
EURUSD: The EURUSD has moved above the swing high from last Wednesday at 1.17416 and next look toward the 61.8% retracement of the move down from the August 13 high. That level comes in at 1.17505. The high price just reached 1.17435
GBPUSD: The GBPUSD has now moved above last Tuesday’s low at 1.37257. The next target comes in at the 50% midpoint of the move down from the August 16 high. That comes in at 1.37395. Break above that level and the falling 200 hour moving average 1.37626 becomes the focus .
USDCHF: The USDCHF as broken below the 50% midpoint of the move up from the August 4 low (range for the year) at 0.91296. The next target comes in at the 100 day moving average at 0.91184.
USDCAD: The USDCAD moved below the 100 hour moving average earlier in the New York session at 1.27358 currently. The price has just cracked below the 61.8% retracement of the move up from the August 11 low at 1.26643. The next target comes in at the rising 200 hour moving average at 1.26364. The current price is trading at 1.26529.
AUDUSD: The AUDUSD it is now up testing the 38.2% retracement of the move down from the August 11 high to the low reached on Friday. That level comes in at 0.72137. A move above that level would have traders targeting the Wednesday low at 0.7227. The 50% midpoint of that same move comes in at 0.72471.
NZDUSD: The NZDUSD I just traded to a new session high of 0.68982. The 38.2% retracement of the move down from the August 11 high comes in at 0.69024. Move above that level opens the door for further upside potential. Earlier today, the price moved above its 100 hour moving average for the first time since August 17. That level comes in at 0.68613 and is the risk for longs now.
USDJPY: Although the USDJPY is not making a new low (the low was made in the early Asian trading at 109.67, the price has moved back below its 100 hour moving average at 109.771. The current price trade at 109.734.