EURUSD moves back below 100 /200 hour MA The EURUSD moved lower after the higher than expected CPI data. The price is moving back toward the 1.0500 level but finding support against that level. There is a swing area between 1.0505 and 1.05092 which is also being tested. The low price reached 1.05012 and is seeing some bounce. The current price is trading at 1.0518. On the downside, below the 1.0500 level: The 1.04904 level was a low from last Monday/Tuesday and again on Thursday (see red numbered circles). This week the low price reached 1.04945. The low price last week was reached on Friday at 1.0482, and The low price for 2022 came in on April 28 at 1.04703. Those are the steps to the downside on further selling pressure. Below those levels and the EURUSD is trading to the lowest level since January 2017. The low price for 2017 – in the 1st week of January of that year – came in at 1.0339 for your guide. Moving below that level would take the price to the lowest level since December 2002 and have traders speaking in terms of parity for the next key target. On the topside, the run to the downside after the data took the price back below its converged 100 and 200 hour moving averages at 1.0543. It would now take a move back above that level to hurt the sellers bias.Looking at the hourly chart, the price has been an in a up and down trading range since April 27. The low comes in at 1.04703. The high reached last Thursday was at 1.0641. That high price stalled ahead of the 38.2% retracement of the move down from the April 21 high at 1.0648 keeping the correction to a “plain-vanilla variety”. The US stock futures have taken a step lower since report: they now implyDow -214 pointsS&P -43 pointsNASDAQ -221 pointsThe 10 year yield is now at the high for the day near is a 3.064%, up 7.1 basis point. The 2 year yield is up 10 basis points at 2.723%. Yields are lower at the start of the New York session
EURUSD moves lower and back below 100/200 hour MAs after CPI data
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