USD continues its fall as European traders exit for the day

The US dollar is continuing to fall with the greenback reaching new lows versus nearly all the major currencies (the CHF is the exception).

  • EURUSD: The EURUSD is extending above the high from last week at 1.07779. Risk is now the swing area between 1.0747 and 1.0759. The next target comes against the 38.2% retracement of the move down from the April 26 high along with the 100 day moving average. Both are near 1.0810 (see video from earlier HERE).
  • GBPUSD: The GBPUSD has now extended above the 61.8% retracement of the May trading range at 1.2537 and a swing area between 1.25367 and 1.25474. Staying above that level would keep the buyers firmly in control with the next targets coming in at 1.25637 and 1.25772.
  • USDJPY: The USDJPY is testing the low of a swing area between 138.73 and 138.897. Break below and traders will target the lows from last week down to 138.42 (see video from earlier here).
  • AUDUSD: The AUDUSD extended up to the high from yesterday and is finding sellers leaning against that level at 0.6717. Support is now the 200 day moving average of 0.66907.

Articles You May Like

Buy now, pay later firm Klarna cuts losses in first half but fails to post profit
Striking unions impacting the economy at a level not seen in decades
GBP/USD Price Analysis: Consolidates near multi-month low, below 1.2400 ahead of UK CPI
Criminals more reliant on cross-chain bridges than ever after mixer crackdowns
Canadian Dollar Rides High on Inflation Data, Dollar and Euro Struggle

Leave a Reply

Your email address will not be published. Required fields are marked *