This post was originally published on this site.
As yields move to the upside with the two-year up 20 basis points at 4.75% in the 10 year up 14 basis points at 4.997% (and retesting the 5% level), the US dollar US dollar is making its own run higher versus all the major currency pairs. In a video above, I take a look at the technicals for the EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD and AUDUSD and outline the levels in play and explain why. It is important to understand the roadmap from a technical perspective and there are a number of currency pairs which are testing the levels after the big moves today,
Below is a quick look at the charts for each:
EURUSD. The EURUSD is running away from the 100 and 200 hour MA and trades below the swing area target down to 1.11525 to 1.11603. Stay below keeps the sellers in control.
GBPUSD: The GBPUSD fell below the 38.2% at 1.33420. and is now close resistance in the GBPUSD.
USDJPY. The price of the USDJPY is making a break above the 200 day MA.
USDCHF: The USDCHF is testing a key swing area between 0.8263 and 0.8274. The area is a key barometer for both buyers and sellers.
USDCAD: The rise in the USDCAD has now reached the swing area consolidation area from the end of September to early October. That area comes between 1.4192 and 1.4298. The high-priced today has extended up to 1.4210 so far. If the price can stay above the 1.4192, the bias remains in firm control of the buyers. Move alone there could be some disappointment from the break.
AUDUSD: The AUDUSD is testing a key swing area between 0.6832 to 0.6863. The swing area extends back to January and gives buyers a chance to buy a dip against the floor. A break below, however, would add to the bearish bias.
This article was written by Greg Michalowski at investinglive.com.
