Technical Analysis

USD near highs vs most major currencies

Yields moving higher. Stocks holding gains

The USD is moving to/near day highs vs most of the major currencies. The exception is the EUR although it is now trading at a new NY session low and is now below the 100 hour MA at 1.09742.

USDJPY: The USDJPY is above its 200 hour MA at 107.389 and testing the 50% retracement at 107.47. The 100 day MA still looms above at 107.548.

GBPUSD:  The GBPUSD has dipped back below the 1.2200 level to a new low for the day at 1.21968. The 61.8% of the move up from September comes in at 1.21959.  Get and stay below that level is the next downside hurdle (or could be support here too).

GBPUSD is testing the 61.8% retracement

USDCHF: The USDCHF has moved above its 100 day moving average, 100 and 200 hour MAs and now the broken 38.2% retracement. That cluster resistance all comes between 0.99506 and 0.99568.  We currently trade at 0.9958.

USDCHF is moving above the cluster of resistance

Yields are higher with the 2 year up 3 basis points and the 10 year up 5.0 basis points. The US the treasury will be auctioning off $24 billion of 10 year notes at 1 PM.

US yields are higher

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