USD buying is cranking up
The US dollar is putting some pressure other currencies as it carries on pulling higher.
USDJPY has been a one way trade since Europe opened and it’s showing no signs of abating just yet.
We should find some resistanmce around 112.80, and 113.00 might be a tougher nut to crack before looking at the Sep highs. Support looks to be in place around 112.60, 112.45/50 and then 112.20/25.
EURUSD is looking very soggy as it tumbles to 1.1730. 1.174/50 is already building as resistance.
The 1.1700-1.1685/90 area has seen some decent support and it’s further supported now by the 200 WMA at 1.1699.
I’m going to watch the euro if it has a look at 1.1700, with a view to taking a long into the big figure. I’ll look at a stop under 1.1680.
It’s pretty much the same picture elsewhere with AUDUSD hovering around yesterday’s lows at 0.7820. USDCHF is trying to hold a break into 0.9800 and has managed a 0.9817 high so far.
US bond yields have crept up again with 10’s getting you 2.33% from 2.30%. Where they go, the dollar is never too far behind.