The EURUSD has moved lower and is testing its 100-day moving average of 1.06421. A move below that level would tilt the bias even more to the sellers. Buyers earlier in the day tried to extend higher but could not get to the next target near 1.0694, nor the 38.2% retracement of the move down from last week’s high,, to this week’s low (1.0709).
Looking at the USDCHF, it too is extending to test its 100-hour MA (blue line on the chart below). That moving average surely comes into 0.91199 . A move above that level and staying above is needed to increase its bullish bias.
The USDJPY is also extending to new highs and looks toward the highs from earlier this week between 154.69 and 154.78.
The NZDUSD price is breaking below its 100 hour MA and moving to a new low for the day. The 100 hour MA comes in at 0.5912. Stay below is more bearish….The next target comes in at 0.5892. The low from yesterday and for the week came in at 0.58569. That was the lowest level since November 15, 2023.
This article was written by Greg Michalowski at www.forexlive.com. Source