EURUSD tests 100-hour MA after breaking above, Fed’s Barkin comments on inflation pressure

The EURUSD has extended above its 100-hour moving average at 1.0708 (see earlier video outlining that levels importance for the buyers today). The high price has reached up to 1.07248.

However, the price has moved back down of the highs for the day, and is currently retesting its 100-hour moving average as I type. Fed’s Barkin is chirping and saying that he does not see the Fed as “done just yet” and that “pressure on services inflation is continuing”. More hawkish comments.

US yields are near their highs with the two-year now up 3 basis points and the 10-year up 5.3 basis points.

So far buyers are holding the line against the 100-hour moving average. A break below would have traders looking back toward the 1.0674 to 1.0694 area.

US stocks are still positive on the day but just barely:

  • Dow Industrial Average average is up 1.61 points or 0.0%
  • S&P index is up 2.77 points or 0.07%
  • NASDAQ index is up 19 points or 0.14%.

This article was written by Greg Michalowski at Source