The USD is ticking to highs /new highs as yields continue to move higher. The 10 year yield is now up 10.1 basis points at 4.562 year yield. The 2-year yield Is up 8.1 basis points at 4.073%.
- The EURUSD is pushing back below the 50% midpoint of the move up from the March low at 1.16287. The price is trading just above the low for the day at 1.1618. Topside resistance is at 1.1655. That was a corrective high today and also a low price from April 30 (lowest level going back to April 9).
- The USDJPY is remaining above the lower swing area between 157.97 and 158.26, But buyers are cautious and still below the high for the day. The current price is trading at 158.55. The high price for the day was reached at 158.67. Nevertheless staying above the 158.00 area is more positive technically. Moving below would be bearish.
- The GBPUSD is back below the 61.8% retracement of the move up from the March 31 below. Dilemma comes in at 1.33496. The current prices just below that level but still above the low for the day at 1.3329.
- The NZDUSD is trading to new session lows and in doing so is testing the low of a swing area between 0.5839 and 0.5858. The price earlier the day tested the low that’s when Gary and bounced off of it. The price is currently back down retesting that low. The 50% midpoint of the move up from the April low is also near that level at 0.5833.
- The AUDUSD dipped below the 200 hour MA yesterday tilting the bias to the downside. The momentum was continued today with a sharp move to the downside. The pair is currently down -0.96%. The next downside target is at 0.71344, the low price from May 5. A move below that level would have traders looking toward the 0.7100 – 0.7110 swing area. Also within that range is a 38.2% retracement of the move up from the March low.
This article was written by Greg Michalowski at investinglive.com.
